Blue Safari Group Acquisition Corp. (BSGA) Shareholders Approve Bitdeer Deal
by Marlena Haddad on 2023-04-11 at 4:49pm

Blue Safari (NASDAQ:BSGA) announced in an 8-K this afternoon that its shareholders approved its combination with crypto mining group Bitdeer at a special meeting held earlier today.

Holders of 2,974,230 ordinary shares of BSGA were present, representing approximately 84.8% of the total ordinary shares of BSGA, at today’s meeting. The business combination was overwhelmingly approved by shareholders as 2,971,987 shares voted in favor of the deal.

Today’s 8-K did not disclose redemption figures, but Blue Safari’s shares traded above its trust value of $10.10 throughout its redemption deadline April 6.

The parties now expect to close the transaction on April 13, and the combined company’s Class A ordinary shares are expected to begin trading on the Nasdaq Stock Market under the symbol “BTDR” on April 14.

Blue Safari initially announced the $4 billion combination with Bitdeer in November 2021. The SPAC originally brought about $58 million into the deal from its trust, but shareholders redeemed 70.11% in a December meeting, leaving it with $17.9 million post-vote. Singapore-headquartered Bitdeer operates five mining datacenters in the US and Norway and provides outsourcing and optimization services to independent crypto miners.


ADVISORS

  • Cooley LLP and Travers Thorp Alberga are serving as legal advisors to Bitdeer in connection with the Transaction.
  • China Renaissance Securities (Hong Kong) Limited is serving as financial advisor to Bitdeer.
  • Davis Polk & Wardwell LLP, Haiwen & Partners and Ogier are serving as legal advisors to Blue Safari in connection with the Transaction.
Blue Safari Group Acquisition Corp. (BSGA) Shareholders Approve Bitdeer Deal
Recent Posts
by Kristi Marvin on 2025-07-05 at 10:02am

Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...

by Nicholas Alan Clayton on 2025-07-03 at 12:54pm

Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...

by Nicholas Alan Clayton on 2025-07-03 at 8:27am

At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...

by Nicholas Alan Clayton on 2025-07-02 at 12:13pm

McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...

by Nicholas Alan Clayton on 2025-07-02 at 8:29am

At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved