TradeUP Global shareholders voted in favor of merging with SAITECH Limited, an energy-saving bitcoin mining operator and a clean-tech company that integrates bitcoin mining, heating and power industries.
In a regulatory filing the SPAC said 2,071,735 shares were redeemed ahead of the vote, which would wipe out about 46% of TradeUP Global’s $44.9 million cash in trust.
As announced last September, the deal was valued at $228 million, which assumed zero redemptions.
One business day following the closing of the deal, shares and warrants are expected to trade on the Nasdaq under the new ticker symbols SAI and SAIW. Read more.
