Blue Safari Group Acquisition said it has deposited $575,000 (10 cents a share) into its trust account to extend the merger deadline from June 14 until Sept. 14.
Bitdeer Technologies Holding Company has 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 is the parent company of Bitdeer Technologies, a cryptocurrency tech company, which has a merger agreement with Blue Safari Group.
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, such as a PIPE.
Blue Safari raised $50 million in a June IPO. Read more.
