SAI.TECH Global, a bitcoin mining operator and clean-tech company that integrates Bitcoin mining, heating and power industries, announced that today it closed the merger with TradeUP Global.
SAI.TECH Global shares and warrants begin trading on the Nasdaq on May 2 under the new ticker symbols, SAI and SAITW.
In a regulatory filing the SPAC said 2,071,735 shares were redeemed ahead of the vote, which would have wiped 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.
The news release annoucing the closed deal made no mention of the final cash consideration. Read more.
