Bitcoin mining firm Bitdeer may delay public offering until 2023

SEC filing indicates Safari Group shareholders may vote to give the company the option to extend Bitdeer's deadline until four times until December 2023.< /p> New

Bitdeer, a crypto-mining company spun off from Chinese mining maker Bitmain, may see its Nasdaq public offering delayed for a year depending on a vote by Blue Safari Group Acquisition Corp shareholders.

In a Nov. 2 filing with the Securities and Exchange Commission, Blue Safari said it would hold a shareholder meeting before the end of 2022 to vote on whether to extend the deadline for its deal with Bitdeer. The mining company announced in November 2021 that it had entered into a definitive merger agreement with Blue Safari to go public through a special purpose acquisition company in the United States.

The SEC filing said shareholders could give the company the option to extend the deadline up to four times to December 2023, as well as postpone the meeting to a later date if the number of votes is insufficient. If successful, the two companies could merge as Bitdeer Technologies Group for a Nasdaq listing.

"If the proposed charter amendment is not approved and we have not completed a business combination by the current termination date, we will (a) cease all operations except for liquidation purposes, (b) as soon as reasonably practicable but not more than ten business days thereafter, subject to funds being legally available therefor, repurchase 100% of the public stock,” the SEC filing said. event of liquidation, there will be no distribution from the trust account with respect to our rights to receive common shares upon the completion of an initial business combination and the rights will expire worthless."

Founded and led by former Bitmain co-founder Jihan Wu, Bitdeer facilitates cloud mining services through US-based data centers operated in Tennessee, Washington, and Texas. As of October 30, the firm