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

On June 20th, as reported by the Associated Press, Parataxis Holdings LLC, which focuses on the digital assets field, is an affiliate of Parataxis Capital Management LLC. By means of Parataxis Korea Fund I LLC and its subsidiaries, Parataxis Holdings has entered into a definitive agreement with Bridge Biotherapeutics, Inc., a biotechnology company, to invest 25 billion Korean won. As a result, it has acquired a controlling stake in the company ("the Transaction"). After the completion of the transaction, the company intends to change its corporate name to Parataxis Korea and remain listed on KOSDAQ. The transaction is subject to customary closing conditions, including shareholder approval. This transaction is set to establish a Bitcoin-centric reserve platform in the South Korean public market, supported by institutional investors with rich experience in digital asset investments. As part of this transaction, Edward Chin, the Founder and CEO of Parataxis Holdings, and Andrew Kim, the Co-Founder and CEO of Parataxis Capital, will join the company's board of directors. Andrew Kim, a partner of Parataxis Capital, will serve as the company's CEO and also be on the board. James Jungkue Lee, a co-founder of Bridge Bio, will continue to lead the company's core biotechnology business and retain a seat on the board.