Finfront Holding Company, a digital asset mining service and cloud-mining service provider (dba BitFuFu), and Arisz Acquisition today announced a definitive business combination agreement that values the merged company at a pro forma enterprise value of approximately $1.5 billion.
If approved, BitFuFu would list on the Nasdaq under FUFU.
The transaction is expected to provide more than $129 million in net cash to BitFuFu at closing, after expenses and assuming no redemptions by ARIZ’s existing public stockholders. Existing BitFuFu stockholders are retaining 100% of their equity in the combined company. Read more.