The Ether Machine has declared its public debut through a significant business merger with Dynamix (DYNX, Financial), set to culminate in trading on Nasdaq under the symbol (ETHM). This merger is noted as the largest all-common-stock financing at the time of announcement since 2021, headlined by co-founder Andrew Keys's initial investment of approximately $645 million, or 169,984 ETH.
The transaction secures over $800 million in upsized, fully committed financing at $10.00 per share from a host of institutional and strategic investors, including big names like 1Roundtable Partners, Archetype, and Blockchain.com. Upon completion, the deal is expected to generate more than $1.6 billion in gross proceeds, with over $1.5 billion from committed financing and up to $170 million held in Dynamix’s trust.
Projected to launch with over 400,000 ETH on its balance sheet, the new entity aims to be the largest publicly traded Ether generation company. The boards of both companies have unanimously endorsed the merger, anticipated to finalize by the fourth quarter of 2025, pending shareholder approval and usual closing conditions.
