Adit EdTech (ADEX) Shareholders Approve Griid Infrastructure Deal
by Marlena Haddad on 2023-12-01 at 9:34am

Adit EdTech (NYSE: ADEX) announced this morning that its shareholders have approved its business combination with bitcoin self-mining company Griid Infrastructure at a special meeting held yesterday, November 30.

A total of 8,520,710 shares of common stock, representing approximately 95.7% of the outstanding shares entitled to vote, were present at the meeting, constituting a quorum to conduct business. The deal was overwhelmingly approved as holders of 8,210,616 shares voted in favor of the proposal, and holders of only 646 shares voted against the combination.

While the SPAC didn’t disclose redemption amounts, it went into yesterday’s vote with an aggregate of 92.75% of its trust already redeemed from previous extension meetings. Without taking into consideration yesterday’s redemptions, it currently has $21.16 million in its trust.

No specific timeline for the closing of the deal has been provided yet. However, upon completion, the combined company is set to trade on the NYSE under the symbol “GRDI”.

Adit EdTech inked its $3.3 billion deal with Griid in November 2021, making it the second oldest announced deal that has yet to close. The New York-based company operates three bitcoin mining operations in the US powered by an electricity mix that is 70% carbon-free.

Recent Posts
by Nicholas Alan Clayton on 2025-05-22 at 5:01pm

Cal Redwood Acquisition Corp. (NASDAQ:CRAQU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CRAQU”, Friday, May 23, 2025. The new SPAC aims to combine with a company in the technology, media and telecommunications sector at the crossroads of emerging trends like...

by Nicholas Alan Clayton on 2025-05-22 at 8:22am

At the SPAC of Dawn After trickling down to $12.82 at one point in the past year, Sable Offshore (NYSE:SOC) is back on a hot streak now that its oil operations are fully up and running. Having merged with Flame in February 2024, Sable became SPACInsider’s deal of the year, based on the vision that...

by Nicholas Alan Clayton on 2025-05-21 at 7:58pm

Oyster Enterprises II Acquisition Corp. (NASDAQ:OYSEU) announced the pricing of its upsized $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “OYSEU”, Thursday, May 22, 2025. The new SPAC aims to combine with a target company in a sector that aligns with the management’s expertise like technology,...

by Nicholas Alan Clayton on 2025-05-21 at 3:59pm

INFINT 2 (NASDAQ: Symbols TBD) has filed for a $100 million SPAC with another team running it back after their first successful close last year. The new SPAC has one right to a 1/10 share in each unit and has overfunded its trust to 100.50% with $10.05 per unit in trust from the start. This...

by Nicholas Alan Clayton on 2025-05-21 at 12:44pm

FIGX (NASDAQ:FIGXU) has filed for a $131 million SPAC with the goal of taking public a financial asset manager with the potential of expanding into a global player. The new S-1 is the ninth of the month and was followed by a tenth this morning, suggesting that May may yet hit April’s blistering pace of...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved