Arisz Acquisition in a proxy proposes an extension in monthly increments from Feb. 22 to Nov. 22 as it works to finaliuze a deal with BitFuFu, a digital asset mining service and cloud-mining service provider. If approved, the SPAC’s sponsor will deposit $120,000 into trust for each month needed.
At deal announcement two years ago, the merged company was valued at a pro forma enterprise value of approximately $1.5 billion.
Shareholders voted in favor of the SPAC’s first extension in November 2022, followed by another extension of nine months approved in May 2023. That carried Arisz to its current Feb. 22 deadline.
Arisz presently has 5,155,754 shares of common stock outstanding, as of ther proxy filing. At its current stock price, that would fgive the SPAC about $56.7 million in trust. The SPAC raised $69 million in a November 2021 IPO. Read more.
