The ether machine to go public with over $1.5 billion in committed capital

NEW YORK - The Ether Machine, Inc. announced Monday it plans to go public through a business combination with Dynamix Corporation (NASDAQ:DYNX), currently trading at $10.44 and near its 52-week high of $11.33, expecting to launch with over 400,000 Ether (ETH) on its balance sheet. According to InvestingPro, Dynamix maintains a market capitalization of $227 million.

The company, which aims to provide public market investors with exposure to Ethereum yield, has secured over $1.5 billion in fully committed financing. This includes a contribution of approximately $645 million (169,984 ETH) from co-founder and chairman Andrew Keys and an $800 million common stock financing from institutional and strategic investors. InvestingPro data shows Dynamix maintains strong liquidity with a current ratio of 4.45, indicating robust capability to meet short-term obligations.

Upon completion of the transaction, expected in the fourth quarter of 2025, the combined entity will trade on NASDAQ under the ticker symbol "ETHM."

The Ether Machine plans to generate returns through staking, restaking, and decentralized finance strategies while maintaining institutional-grade security and compliance standards.

"The Ether Machine provides secure, liquid access to Ether — the digital oil that is powering the next era of the digital economy," said Keys in the press release statement.

The leadership team includes blockchain veterans with experience from Consensys, DARMA Capital, and traditional finance institutions. David Merin will serve as CEO, with Tim Lowe as CTO, Darius Przydzial as Head of DeFi, and Jonathan Christodoro as Vice Chairman.

Citigroup Global Markets is serving as Capital Markets Advisor to The Ether Machine and as Sole Placement Agent for the financing. Cohen & Company Capital Markets and Scotia Capital are acting as joint financial advisors to Dynamix Corporation.

The boards of directors of both companies have unanimously approved the proposed combination, which remains subject to shareholder approval and other customary closing conditions. InvestingPro analysis indicates Dynamix currently maintains a Fair financial health rating, with additional metrics and insights available to subscribers looking to evaluate this strategic combination.

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