Merger & Funding - Parataxis Holdings is merging with SilverBox Corp IV via a SPAC deal to establish a publicly listed Bitcoin treasury company [1] - The combined entity, trading as PRTX, aims to raise up to $640 million [1] - Approximately $240 million is expected from the SPAC trust, contingent on redemptions, with a potential additional $400 million through a new equity line [1] Bitcoin Strategy - Parataxis plans to immediately allocate $31 million to Bitcoin acquisition [1] - The company intends to accumulate Bitcoin over time, mirroring MicroStrategy's strategy [3] - This positions Parataxis among public companies holding substantial BTC, nearing a total of $90 billion [3] Market Focus - The firm aims to offer institutional-grade BTC exposure in underpenetrated markets like South Korea and the U S [2] - Parataxis Korea experienced a 450% share price increase since June following a deal with Bridge Biotherapeutics [2] - South Korea is identified as a high-impact market lacking a spot Bitcoin ETF, despite significant trading volume [2]

Don Jr. And Eric Trump Back New SPAC Targeting American Manufacturing—Here’s How These Deals Have Worked In The Pasthttps://t.co/7JgnKw771L https://t.co/6bsiZ5jIuR ...

Financial Performance - Cohen & Company Inc. reported second quarter 2025 revenue of $59.9 million, a significant increase from $28.7 million in the prior quarter and $10.8 million in the same quarter last year [1][7]. - Net income attributable to Cohen & Company Inc. was $1.4 million, or $0.81 per diluted share, compared to $0.3 million, or $0.19 per diluted share in the prior quarter, and a net loss of $2.3 million, or $1.47 per diluted share in the same quarter last year [2][7]. - Adjusted pre-tax income for the second quarter 2025 was $5.5 million, or $0.94 per diluted share, up from $1.3 million, or $0.22 per diluted share in the prior quarter, and a loss of $8.6 million, or $1.51 per diluted share in the same quarter last year [2][7]. Revenue Breakdown - Net trading revenue for the second quarter 2025 was $10.8 million, an increase of $1.5 million from the prior quarter and $2.0 million from the same quarter last year, primarily driven by higher trading revenue from SPAC equity, SBA, and mortgage groups [4][7]. - Asset management revenue was $2.2 million, slightly up from both the prior quarter and the same quarter last year, mainly due to deferred performance fees in European funds [4][7]. - New issue and advisory revenue reached $37.4 million, up $4.2 million from the prior quarter and $30.9 million from the same quarter last year, reflecting strong performance from Cohen & Company Capital Markets [4][7]. Operating Expenses - Compensation and benefits expense increased to $44.3 million for the second quarter 2025, up $22.7 million from the prior quarter and $33.6 million from the same quarter last year, largely due to fluctuations in revenue and related variable incentive compensation [4][7]. - Non-compensation operating expenses were $8.1 million, compared to $7.0 million in the prior quarter and $6.5 million in the same quarter last year [4][7]. Strategic Initiatives - The company is entering the second half of 2025 with strong momentum and a robust pipeline, driven by its full-service boutique investment banking operation [5][6]. - Cohen & Company launched a SPAC-focused equity trading desk, generating over $1.4 million in trading revenue in its first quarter of operation, which is expected to complement its capital markets strategy [6][7]. Dividend Declaration - The Board of Directors declared a quarterly dividend of $0.25 per share, payable on August 29, 2025, to stockholders of record as of August 15, 2025 [2][11].

A troubled SPAC plans to buy iRocket for $400M but it already returned most of its cash | TechCrunch https://t.co/MLZl68terp ...

Aspiring rocket developer iRocket, backed by an investor group funded by a number of technology moguls, announced a deal Wednesday to go public via a $400 million merger with a SPAC backed by Wilbur Ross https://t.co/osRTPzfWLM ...

Julian Klymochko, Accelerate CEO, joins 'Power Lunch' to discuss the renewed trend of companies going public via blank check companies, or SPACs. ...

Ethena Foundation to spin up SPAC called StablecoinX dedicated to buying millions worth of ENA https://t.co/y2ppaCccXF ...

The newest ETH TreasuryCo is here with 'Ether Machine'Ether Machine is a new company created via SPAC and a merger with Dynamix (DYNX)And they have $1.5B in committed capital and plan to hold 400,000 ETH on Day 1The vision is for "an active ether generation company" planning on "staking, restaking, and deploying it across Ethereum's economic engine."DYNX stock is up 30% premarket on the news ...

Group 1: SPAC Market Performance - The SPAC IPO market in the U.S. has shown strong performance in early 2025, with 62 SPACs completing listings, surpassing the total of 57 for all of 2024, representing an 8.8% year-on-year increase [2] - The total fundraising amount reached $10.8 billion, nearly six times that of the same period last year, with an average fundraising of $180 million and a median of $200 million, indicating a significant leap in scale [2] - In the first half of 2025, 23 SPACs completed merger transactions valued at approximately $22.5 billion, with 21 more seeking new merger targets, reflecting a focus on both quantity and quality in the SPAC market [5][6] Group 2: Chinese Companies in the U.S. SPAC Market - In 2024, 25 Chinese companies successfully entered the U.S. market through the De-SPAC process, while 4 Chinese companies have already utilized this method to list in the U.S. by June 30, 2025 [6] - The industry distribution of Chinese companies entering the U.S. market through De-SPAC in the first half of 2025 includes traditional sectors like manufacturing and technology, as well as emerging areas such as consumer upgrades and gaming [7] - The trend indicates a deep integration of capital and industry, with several Chinese companies currently in the SPAC listing process in the U.S. [7] Group 3: Market Trends and Future Outlook - The new regulations on Nasdaq are accelerating the capital-raising process for companies, and the efficiency of the China Securities Regulatory Commission's filing system is improving, suggesting that more Chinese companies will enter the U.S. market via De-SPAC in the second half of 2025 [8] - The average listing cycle for SPACs has shortened to 6-12 months, attracting more high-growth companies to choose this "fast track" for market entry [8] Group 4: De-SPAC Process and Financial Disclosure Requirements - The De-SPAC process involves several stages, including preparation, agreement and filing, regulatory review, and final listing, with timelines ranging from 3 to 8 months for regulatory review [13][21] - Recent upgrades in financial disclosure rules for De-SPAC transactions focus on dilution effects, financial forecasts, and compliance with reporting standards, aligning more closely with traditional IPO requirements [21][24] - Companies undergoing De-SPAC must fulfill dual disclosure obligations to both the Chinese and U.S. regulatory bodies, with significant penalties for any false statements or violations [24]

Cantor Fitzgerald SPAC in Talks for $4B Bitcoin Deal With Blockstream’s Adam Back: FT► https://t.co/un9CW3iWHj https://t.co/un9CW3iWHj ...