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Digital Asset Investment Management firm Parataxis is the latest Crypto firm that announces that it will go publicly through a particular objective company (SPAC).
Parataxis on Wednesday stated that he had agreed to merge with the Silverbox Corp IV, a SPAC sponsored by an associate of Silverbox Capital, in a deal that a bitcoin (BTC) is $ 640 million to fund a bitcoin (BTC) Treasury strategy.
Once the deal is completed, the joint company will be named Parataxis Holdings and will try to trade on the New York Stock Exchange under the symbol “at $ 10 per million.
The deal originally floated in June and included $ 240 million from merger and up to $ 400 million via an additional equity line of credit, immediately to buy bitcoins with $ 31 million.
Extension in south korea
Edward Chin, founder and CEO of Parataxis, said the deal means that his firm “will be well capitalized to execute the BTC Treasury Strategy Manager.”
The company also plans to develop and develop “successful legs in South Korea”,
Connected: Korean Biotech firm purchased by Parataxis for Bitcoin Treasury Use
He has already established “Parataxis Korea” through an investment in Bridge Biotherapeutics, which has increased by the Stock Price by about 4.5 times the June Anocracy.
Crypto IPO year
The move follows many high-profile crypto companies, which have been a public ether on their own or through the Spacs-Public Company that acquisition or merge, it will be bright. public.
The USDC StableCoin issuer Circle Internet Group made its initial public offering (IPO) in June, and its shares have increased by 420% from the IPO price of $ 31.
Anthony Debut on Nasdaq on 20 May, Pampino’s Fintech-Centenary SPAC, Prokap Acquisition Corp, and Crypto Asset Manager Grancale filed for a public listing in July.
Silverbox Corp IV
Shares in Silverbox Corp IV makes a minor profit
This year most of the company’s benefits came amidst their initial revelations of making Parataxis public. It closed the trading trading flat at $ 10.60 on Wednesday, which saw a 1.7% lead after hours after $ 10.78.
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