TLDR
- Ether Machine files S-4 for Nasdaq SPAC merger, eyes Q4 public debut.
- $2.16B ETH treasury backs Ether Machine’s SPAC merger with Dynamix.
- Ether Machine targets Q4 Nasdaq listing with $2.16B Ethereum stack.
- SPAC deal with Dynamix propels Ether Machine toward Nasdaq listing.
- Ether Machine builds $2.16B ETH treasury ahead of public market entry.
Ethereum-focused treasury management firm Ether Machine has taken a critical step toward going public in the U.S. The company submitted a draft registration statement on Form S-4 to the Securities and Exchange Commission. This move supports its plan to merge with Nasdaq-listed special-purpose acquisition company (SPAC) Dynamix Corporation, trading under the ticker ETHM.
Form S-4 Filing Advances Merger Plans
Ether Machine filed the S-4 in connection with its proposed business combination with Dynamix Corporation. The filing outlines the deal’s terms and initiates the shareholder approval process. The company confirmed that the merger is expected to close in the fourth quarter of the year.
Dynamix Corporation will prepare for its extraordinary general meeting, where shareholders will vote on the proposed transaction. Upon approval, Ether Machine will become a publicly traded Ethereum treasury firm on Nasdaq. The deal remains subject to standard closing conditions and regulatory review.
The registration statement includes a proxy statement for Dynamix shareholders and a prospectus for Ether Machine. These documents will detail the merger and other related transactions. Additional filings may follow as required by the SEC for transparency and compliance.
Ethereum Holdings Reach $2.16 Billion Ahead of Listing
Ether Machine disclosed earlier this month that it added 150,000 ETH to its treasury in August. This acquisition raised its total holdings to 495,362 ETH, currently valued at approximately $2.16 billion. The company now ranks third among corporate holders of Ethereum.
This growth adds to its earlier contributions from anchor backer Andrew Keys, who committed nearly 170,000 ETH. Keys’ stake, now worth around $741 million, laid the foundation for Ether Machine’s treasury strength. The company continues to attract institutional and strategic capital for Ethereum accumulation.
Its latest Ethereum injection came on September 2, led by prominent ETH advocate Jeffrey Berns. The firm also retains $367.1 million in capital for further acquisitions, assuming no shareholder redemptions. Ether Machine now trails only Bitmine Immersion Tech and SharpLink Gaming in corporate Ethereum exposure.
Governance, Oversight and Path to Public Status
Ether Machine engaged KPMG to oversee governance and regulatory disclosures ahead of its public listing. This decision aims to ensure compliance and transparency practices post-merger. The company believes this partnership will support investor confidence and public accountability.
Formed from the merger of Ether Reserve LLC and Dynamix Corporation, Ether Machine has restructured its original $1.5 billion fundraising strategy. It previously attracted commitments from firms including Blockchain.com, Kraken, and Pantera Capital. The redefined capital approach now centers on ETH accumulation over fiat holdings.
Ether Machine has positioned itself as a leading corporate Ethereum entity with a long-term vision. The company’s strategic decisions align with broader digital asset adoption and public market growth. With over $2 billion in ETH and plans for listing, Ether Machine aims to set a new benchmark in the crypto treasury space.
