Parataxis Holdings to Go Public in South Korea Through a "Reverse Merger," Will Have Bitcoin as Core Reserve

BlockBeats News, June 20th, according to the Associated Press, investment company Parataxis Holdings LLC, focused on the digital assets field, is an affiliate of Parataxis Capital Management LLC. Through Parataxis Korea Fund I LLC and its subsidiaries, Parataxis Holdings has signed a definitive agreement with biotechnology company Bridge Biotherapeutics, Inc. to invest 25 billion Korean won, thereby acquiring a controlling stake in the company (“the Transaction”). Following the completion of the transaction, the company plans to change its corporate name to Parataxis Korea and continue to be listed on KOSDAQ. The transaction is subject to customary closing conditions, including shareholder approval.

This transaction will lead to the creation of a Bitcoin-centric reserve platform in the South Korean public market, backed by institutional investors with extensive experience in digital asset investments. As part of this transaction, Parataxis Holdings Founder and CEO, and Parataxis Capital Co-Founder and CEO Edward Chin will join the company's board of directors. Parataxis Capital Partner Andrew Kim will serve as the company's CEO and also join the board. Bridge Bio Co-Founder James Jungkue Lee will continue to lead the company's core biotechnology business and retain a seat on the board.