Latest news with #AndrewKim
Cision Canada
10 hours ago
- Business
- Cision Canada
Parataxis Holdings LLC Announces Definitive Agreement with Bridge Biotherapeutics, Inc. (KOSDAQ: 288330), to Bring Institutionally-Backed, Bitcoin Treasury Company to the South Korean Public Markets:
SEOUL, South Korea and NEW YORK, June 20, 2025 /CNW/ -- Parataxis Holdings LLC ("Parataxis Holdings"), an affiliate of Parataxis Capital Management LLC ("Parataxis Capital" or "PCM"), through Parataxis Korea Fund I LLC and affiliates, has entered into a definitive agreement with Bridge Biotherapeutics, Inc. ("Bridge Bio" or the "Company") to invest KRW 25 billion which would provide Parataxis Holdings a controlling interest in the Company (the "Transaction"). Following the closing of the Transaction, the Company intends to change its corporate name to Parataxis Korea and remain listed on the KOSDAQ. The Transaction is subject to customary closing conditions, including approval by the Company's shareholders. The Transaction would result in the creation of a Bitcoin-native treasury platform in the South Korean public markets that is anchored by institutional investors with significant experience in digital asset investments. As part of the Transaction, Edward Chin, Founder and CEO of Parataxis Holdings, and Co-Founder & CEO of Parataxis Capital, will be joining the Board of Directors of the Company. Andrew Kim, Partner at Parataxis Capital, will assume the role of CEO of the Company and will also join the Board of Directors. James Jungkue Lee, Co-founder of Bridge Bio will continue to lead the core biotech business and serve on the Company's Board of Directors. "Inspired by the growing interest in BTC treasury strategies seen in companies like Strategy in the US and Metaplanet in Japan, we believe institutional interest in this space is increasing globally. We see South Korea as an important market in the evolution of BTC adoption. Our intent is to support institutional access to BTC exposure while emphasizing sound corporate governance and disciplined capital management," said Andrew Kim. "We are incredibly excited to create the first BTC treasury company in South Korea backed by an institutional-grade platform. Given the strategic nature of BTC on the global stage and its finite supply, we believe that building and growing a company like Parataxis Korea and accumulating a BTC treasury will benefit our shareholders as well as the country over the long run," said Edward Chin of Parataxis Holdings. Along with the contemplated Transaction, Parataxis Holdings is closing another fund with substantially the same strategy, and is in the process of launching additional fund vehicles. Parataxis Holdings expects to announce additional details regarding the Transaction after conducting a shareholder meeting expected in August. Shin & Kim LLC, is acting as legal advisor to Parataxis Korea Fund I LLC in the Transaction. Deloitte is acting as financial advisor to Parataxis Korea Fund I LLC in the Transaction. About Parataxis Capital Management and Parataxis Holdings Parataxis Capital Management is a multi-strategy investment firm focused on the digital asset sector. PCM was founded in 2019 and manages multiple commingled hedge fund vehicles and provides sub-advisory services for institutional allocators, family offices, fund-of-funds and high-net worth individuals. Parataxis Holdings is an affiliate of PCM and focused on BTC treasury and other digital asset investment opportunities. Both firms are headquartered in New York City. About Bridge Biotherapeutics Bridge Biotherapeutics, Inc. is a clinical stage biotech company engaged in the development and commercialization of therapeutics for the treatment of ulcerative colitis, fibrotic diseases, and cancers worldwide. The Company was founded in 2015 and was listed on the KOSDAQ in 2019. Bridge Bio is headquartered in Seongnam, South Korea. Forward-Looking Statements: This press release contains forward-looking statements, including but not limited to those relating to the proposed transaction, potential business combination, and the anticipated use of proceeds. These statements are based on current expectations and projections and are subject to risks and uncertainties that could cause actual results to differ materially. There is no assurance that the transaction described herein will be completed as contemplated, or at all. The Company assumes no obligation to revise or update any forward-looking statements after the date of this release, except as required by applicable law. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction, and should not be interpreted as investment advice or a recommendation regarding any investment decision. Investing involves inherent risks, including the potential loss of principal. Any investment decision must be made solely at the discretion and responsibility of the investor. No representation or warranty, express or implied, is made by the Company with respect to the accuracy of any information contained herein or the achievement of any investment returns or financial results.
Yahoo
07-03-2025
- Business
- Yahoo
SISD considering incentive payment for teachers who voluntarily leave their position
EL PASO, Texas (KTSM) — The Socorro Independent School District's (SISD) Board of Trustees will be discussing a proposal to offer a $2,500 incentive payment to 100 teachers and campus-based contract staff, who will voluntarily leave their positions at the end of the school year. The measure will be discussed at a special board meeting starting at 5:30 p.m. on Thursday, March 6 at the district's headquarters at 12440 Rojas Dr, El Paso, TX 79928. If passed, this would grant teachers and select staffers the option to submit a Notice of Voluntary Separation to SISD, effective at the end of the 2024-25 contract year. The payments would be distributed to the first 100 select staffers to submit the notice. This comes on the heels of the district approving a measure to lay off approximately 300 teachers and staff at the end of the school year, to address a projected $38 million budget shortfall that threatens to bankrupt the district. Socorro ISD board approves hundreds of layoffs to deal with budget shortfall Andrew Kim, one of two state-appointed conservators to oversee the district in the midst of their financial crisis, said two weeks ago after a board meeting that the layoffs are estimated to save SISD $30 million. That would leave an $8 million shortfall that would still need addressing. Socorro ISD layoffs shock teachers, students Veronica Hernandez, union president of the Socorro American Federation of Teachers, said that if passed the measure would be a welcome relief for teachers, but that it wouldn't do much to improve their situation. 'The morale, it's just really low right now, extremely low. So yeah, this is a little bit of help, but I mean, that's nothing for 100 people. What about the other 200-300 that (SISD) is going to let go? By the time unemployment kicks in, you're already going to be late on several bills,' Hernandez said. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
12-02-2025
- Business
- Yahoo
Strathcona Resources Insiders Added CA$10.4m Of Stock To Their Holdings
Multiple insiders secured a larger position in Strathcona Resources Ltd. (TSE:SCR) shares over the last 12 months. This is reassuring as this suggests that insiders have increased optimism about the company's prospects. While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, logic dictates you should pay some attention to whether insiders are buying or selling shares. View our latest analysis for Strathcona Resources Over the last year, we can see that the biggest insider purchase was by Non-Independent Director Andrew Kim for CA$6.5m worth of shares, at about CA$29.00 per share. That means that even when the share price was higher than CA$26.90 (the recent price), an insider wanted to purchase shares. Their view may have changed since then, but at least it shows they felt optimistic at the time. To us, it's very important to consider the price insiders pay for shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. In the last twelve months Strathcona Resources insiders were buying shares, but not selling. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date! There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying. It's good to see that Strathcona Resources insiders have made notable investments in the company's shares. Overall, eight insiders shelled out CA$9.2m for shares in the company -- and none sold. This is a positive in our book as it implies some confidence. Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that Strathcona Resources insiders own 0.3% of the company, worth about CA$19m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders. The recent insider purchases are heartening. We also take confidence from the longer term picture of insider transactions. When combined with notable insider ownership, these factors suggest Strathcona Resources insiders are well aligned, and that they may think the share price is too low. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. To that end, you should learn about the 2 warning signs we've spotted with Strathcona Resources (including 1 which doesn't sit too well with us). But note: Strathcona Resources may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
