Blue Safari Group Acquisition in a preliminary proxy filing asks shareholders to approve an extension on its deal with Bitdeer beyond the current Dec. 14 deadline. The proposal calls for up to four four-month extensions until December 2023.
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. Another $575,000 was deposited into the SPAC’s trust in September in exchange for the current extension that expires next month.
Bitdeer Holding is the parent company of Bitdeer Technologies, a cryptocurrency tech company.
Bitdeer Holding, according to the proxy, is willing to make an additional loan in exchange for approval of a deadline extension, although the amount of any such loan is not specified in the filing.
Headquartered in Singapore, Bitdeer currently operates five proprietary mining datacenters in the United States and Norway. Read more.
