Bitdeer Technologies to Become Publicly Listed Company on Nasdaq Through Blue Safari Acquisition
Bitdeer Technologies Holding Company and Blue Safari Group Acquisition Corp. have announced that their proposed business combination has been given the green light by the U.S. Securities and Exchange Commission (SEC).
This news was revealed in a press release on March 27, 2023, which stated that the SEC had declared effective the registration statement of Bitdeer Technologies Group (BTG) on Form F-4, relating to the proposed merger of the two companies.
The board of directors of Blue Safari has urged its shareholders to vote in favor of the proposed Business Combination, which values Bitdeer at an implied equity value of approximately $1.18 billion.
The extraordinary general meeting (EGM) will be held on April 11, 2023, where shareholders of record of Blue Safari at the close of business on March 20, 2023, will be entitled to receive notice of and to vote at the EGM. The EGM will be held virtually via live webcast and physically at the offices of Davis Polk & Wardwell LLP in New York.
The combined company, BTG, will become a publicly listed company on the Nasdaq under the ticker “BTDR” once the Business Combination is approved and all other customary closing conditions are met. The Business Combination is expected to close shortly after approval by Blue Safari’s shareholders and the satisfaction of other customary closing conditions as described in the Proxy Statement and the Registration Statement.
Bitdeer Technologies Holding Company is a world-leading technology company for the cryptocurrency mining community based in Singapore. The company provides comprehensive digital asset mining solutions for its customers and handles complex processes involved in mining such as miner procurement, transport logistics, mining data center design and construction, mining machine management, and daily operations. Bitdeer has mining data centers deployed in the United States and Norway.
Blue Safari Group Acquisition Corp. is a blank check company sponsored by BSG First Euro Investment Corp. The company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities.
Blue Safari’s sponsor, BSG First Euro Investment Corp., which owns approximately 49.3% of Blue Safari’s issued and outstanding shares as of the record date of the EGM, has agreed to vote its shares in favor of the Business Combination proposal at the EGM. Blue Safari’s shareholders who have questions or need assistance with voting may contact Karen Smith, Advantage Proxy Inc., Blue Safari’s proxy solicitor.
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