Bitdeer and Blue Safari Complete Business Combination
13 Avril 2023 - 10:30PM
Bitdeer Technologies Group (“Bitdeer”), a world-leading technology
company for the cryptocurrency mining community, and Blue Safari
Group Acquisition Corp. (NASDAQ: BSGA) (“Blue Safari”), a special
purpose acquisition company, today announced the completion of
their previously announced business combination (the “Business
Combination”). Bitdeer’s Class A ordinary shares will commence
trading on the Nasdaq under the ticker symbol “BTDR” on April 14,
2023.
Linghui Kong, Chief Executive Officer of
Bitdeer, commented, “The completion of our business combination
with Blue Safari is the start of a new era for Bitdeer. I would
like to thank our team and Blue Safari for their focus, diligence,
and commitment that has brought us to this milestone in our
development. Looking ahead, we are delighted to be able to continue
to grow our business and further contribute to the crypto economy
as a Nasdaq-listed company.”
Naphat Sirimongkolkasem, Chief Financial Officer
and Director of Blue Safari, commented, “The business combination
represents a significant milestone for the crypto mining community,
and we are honored to partner with a leading player in this market.
We have great admiration for Chairman Jihan Wu and CEO Linghui
Kong, who are visionary leaders in this space. We are privileged to
partner with Bitdeer, and we are optimistic about the opportunities
and possibilities that lie ahead.”
Advisors
Cooley LLP and Travers Thorp Alberga served as
legal counsel to Bitdeer. Davis Polk & Wardwell LLP, Haiwen
& Partners, Shook Lin & Bok LLP and Ogier served as the
legal counsel to Blue Safari. Royson Valuation Advisory Limited
served as valuation advisor and IJW & Co., Ltd. provided a
fairness opinion to the Board of Directors and Officers of Blue
Safari. Brigoal Consulting Limited served as transaction service
advisor to Blue Safari.
About Bitdeer Technologies
Group
Bitdeer is a world-leading technology company
for the cryptocurrency mining community headquartered in Singapore.
Bitdeer has committed to providing comprehensive digital asset
mining solutions for its customers. Bitdeer handles complex
processes involved in mining such as miner procurement, transport
logistics, mining datacenter design and construction, mining
machine management and daily operations. Bitdeer has mining
datacenters deployed in the United States and Norway. To learn
more, visit www.bitdeer.com.
About Blue Safari Group Acquisition
Corp.
Blue Safari Group Acquisition Corp. is a blank
check company sponsored by BSG First Euro Investment Corp., a
British Virgin Islands company, and formed for the purpose of
effecting a merger, share exchange, asset acquisition, share
purchase, reorganization or similar business combination with one
or more businesses or entities.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“estimate,” “plan,” “project,” “forecast,” “intend,” “will,”
“expect,” “anticipate,” “believe,” “seek,” “target” or other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding the estimated implied equity value of Bitdeer,
Blue Safari’s and Bitdeer’s ability to consummate the Business
Combination, and expectations related to the terms and timing of
the Business Combination, as applicable. These statements are based
on various assumptions, whether or not identified in this press
release, and on the current expectations of Blue Safari’s and
Bitdeer’s management and are not predictions of actual
performance.
These forward-looking statements are provided for illustrative
purposes only and are not intended to serve, and must not be relied
on by any investor, as a guarantee, an assurance, a prediction or a
definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will
differ from assumptions. Many actual events and circumstances are
beyond the control of Blue Safari and Bitdeer. These
forward-looking statements are subject to a number of risks and
uncertainties, including failure to realize the anticipated
benefits of the Business Combination; Bitdeer’s ability to execute
on its business model, potential business expansion opportunities
and growth strategies, retain and expand customers’ use of its
services and attract new customers, and source and maintain talent;
risks relating to Bitdeer’s sources of cash and cash resources;
risks relating to the blockchain and frontier technology
infrastructure sectors, including the unregulated nature of the
cryptocurrency space and potential future regulations, volatility
of the price of digital assets, changes in the award structure for
solving digital assets and limited availability of electric power
resources; risks relating to Bitdeer’s vulnerability to security
breaches; risks relating to Bitdeer’s ability to manage future
growth; the effects of competition on Bitdeer’s future business;
the ability of Bitdeer to issue equity or equity-linked securities
in the future; the outcome of any potential litigation, government
and regulatory proceedings, investigations and inquiries involving
the parties to the Business Combination; the impact of the COVID-19
pandemic on Bitdeer’s business and the global economy; and those
factors discussed in Bitdeer’s registration statement on Form F-4
(including the proxy statement/prospectus therein)under the heading
“Risk Factors,” Blue Safari’s final prospectus related to its
initial public offering dated June 10, 2021, under the heading
“Risk Factors,” in Blue Safari's Annual Report on Form 10-K for the
fiscal year ended December 31, 2022 under the heading “Risk
Factors” filed with the U.S. Securities and Exchange Commission
(the “SEC”) on March 6, 2023 and other documents filed, or to be
filed, by Bitdeer or Blue Safari from time to time with the SEC. If
any of these risks materializes or our assumptions prove incorrect,
actual results could differ materially from the results implied by
these forward-looking statements. There may be additional risks
that neither Blue Safari nor Bitdeer presently knows or that Blue
Safari and Bitdeer currently believe are immaterial that could also
cause actual results to differ from those contained in the
forward-looking statements. In addition, forward-looking statements
reflect Blue Safari’s and Bitdeer’s expectations, plans or
forecasts of future events and views as of the date of this press
release. Blue Safari and Bitdeer anticipate that subsequent events
and developments will cause Blue Safari’s and Bitdeer’s assessments
to change. However, while Blue Safari and Bitdeer may elect to
update these forward-looking statements at some point in the
future, Blue Safari and Bitdeer specifically disclaim any
obligation to do so. These forward-looking statements should not be
relied upon as representing Blue Safari's or Bitdeer's assessments
as of any date subsequent to the date of this press release.
Accordingly, undue reliance should not be placed upon the
forward-looking statements.
Contacts
Investor RelationsRobin Yang, PartnerICR, LLCEmail:
Bitdeer.ir@icrinc.comPhone: +1 (212) 537-5825
Public RelationsBrad Burgess, SVPICR, LLCEmail:
Bitdeer.pr@icrinc.comPhone: +1 (212) 537-4056
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