Ethereum treasury giant The Ether Machine files draft S-4 for Nasdaq SPAC merger with Dynamix, holds 495K ETH, 3rd-largest corporate holder.
The Ether Machine files S-4 with SEC to advance Nasdaq listing
Ethereum treasury firm The Ether Machine has officially taken the step towards a U.S. public offering by filing a draft Form S-4 with the Securities and Exchange Commission (SEC).
“We are moving into a new gear and are on our way to a full public offering,” the company said in a statement to X.
SPAC deal with Dynamix
The S-4 filing is for a planned merger with Dynamix Corporation (NASDAQ: ETHM), a special purpose acquisition company (SPAC). The deal was announced in July and the companies plan to close in the fourth quarter.
The closing is subject to customary conditions, including approval from Dynamix shareholders. The vote will take place at an extraordinary meeting, which Ether Machine announced on Tuesday.
Third-largest corporate ETH holder
In August, the company added another 150,000 ETH to its corporate vault, bringing its total holdings to 495,362 ETH. According to SER, this makes Ether Machine the third-largest corporate Ethereum holder, behind Bitmine Immersion Tech and SharpLink Gaming.
Market implications
The Ether Machine’s listing on Nasdaq could be a watershed moment for the corporate Ethereum segment, which has been dwarfed by Bitcoin vaults. Going public not only opens the company up to broader sources of capital, but could also provide new impetus for ETH to be recognized as a strategic corporate asset.
