Blue Safari Group Acquisition said it deposited $575,000 (10 cents a share) into its trust account to extend the merger deadline with Bitdeer Technologies from Sept. 14 to Dec. 14.
Bitdeer Technologies Holding Company agreed to loan the SPAC up to $1.99 million in two tranches to extend the combination period up to two times, each for an additional three months. On June 1, Blue Safari Group drew down $575,000 of the loan.
Bitdeer Holding is the parent company of Bitdeer Technologies, a cryptocurrency tech company.
Headquartered in Singapore, Bitdeer currently operates five proprietary mining datacenters in the United States and Norway.
If approved, the renamed Bitdeer Technologies Group would list on the Nasdaq. Announced in January, the deal had been expected to close in the first quarter. The transaction has been presented as a straight stock swap with no mention of supplemental funding.
Blue Safari raised $50 million in a June IPO. Read more.
