The Ether Machine announced its public launch through a definitive business combination agreement between The Ether Reserve and Dynamix (DYNX). Upon the closing of the business combination, the combined entity will trade on Nasdaq under the ticker symbol (ETHM). This transaction marks the largest all-common-stock financing committed at announcement since 2021. Contribution of approximately $645M, representing 169,984 ETH, by co-founder and chairman Andrew Keys at inception. In excess of $800M of upsized, fully-committed financing at $10.00 per share from institutional and strategic investors including 1Roundtable Partners / 10T Holdings, Archetype, Blockchain.com, cyberFund, Electric Capital, Kraken and Pantera Capital. The transaction is expected to deliver over $1.6B of gross proceeds, including over $1.5B of fully committed financing and up to $170M of cash held in Dynamix’s trust account. The company is expected to launch with over 400,000 ETH on its balance sheet, making it the largest public Ether generation company. The boards of directors of both The Ether Machine and Dynamix have unanimously approved the proposed business combination, which is expected to close by the fourth quarter of 2025, subject to shareholder approval and other customary closing conditions.
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