The Ether Machine To Go Public

Skadden advised The Ether Machine in connection with its definitive business combination agreement with Dynamix Corporation, a Nasdaq-listed special purpose acquisition company. As a result of the business combination, The Ether Machine is expected to launch with over 400,000 ether (ETH) and manage the largest pool of assets in a public vehicle for pure-play institutional-grade exposure to Ethereum and ETH-denominated yield. Upon the business combination’s closing, the combined entity will trade on Nasdaq under the ticker symbol ETHM. The transaction was anchored by a contribution of approximately $645 million (169,984 ETH) from co-founder and chairman Andrew Keys, alongside an upsized common stock financing in excess of $800 million from institutional, crypto-native and strategic investors. Lorenzo Corte and Ryan Dzierniejko led the Skadden team.