SPAC to Fuel $640M Parataxis Bitcoin Treasury, NYSE Debut

Parataxis, a Bitcoin asset manager, is going public via a SPAC merger with SilverBox Corp IV. The transaction will raise up to $640 million in gross proceeds—$240 million from the SPAC trust and up to $400 million through a PIPE facility—to fund its Bitcoin treasury strategy. At closing, the combined entity, Parataxis Holdings, will list on the NYSE under the ticker PRTX at an implied equity value of $800 million based on $10 per share. An initial $31 million of the proceeds will be used to purchase Bitcoin, supporting Parataxis’s long-term BTC accumulation and yield strategies within an institutional framework. CEO Edward Chin said the deal enhances institutional credibility and will finance expansion into South Korea via Parataxis Korea, backed by its investment in Bridge Biotherapeutics. The move follows a wave of crypto IPOs and SPAC deals, including Circle’s IPO, ProCap’s NASDAQ debut, and Grayscale’s planned listing. Since June, Parataxis’s shares have risen 4.5-fold. SilverBox Corp IV traded flat at $10.60 on close, rising 1.7% postmarket to $10.78. This SPAC merger underscores growing institutional interest in Bitcoin and may boost market optimism.