Griid Infrastructure and Adit EdTech Acquisition announced today that they plan to merge at a combined valuation of $3.3 billion. The announcement follows news reports last week that a deal betweeen the companies was imminent.
If approved, upon completion the combined company is expected to operate under the name GRIID Infrastructure and list on the NYSE under GRDI.
The transaction is expected to provide approximately $246 million of cash at closing from Adit EdTech’s trust account, after payment of Adit EdTech’s transaction expenses and without giving effect to any redemptions. Read more.
