In a recent press statement, Bitdeer Technologies and Blue Safari announced the SEC’s successful approval of their business combination proposal.
SEC declares effective the registration statement
Bitdeer Technologies and Blue Safari corp recently announced their success with SEC. According to a press statement via PR newswire, the duo announced that the Securities and Exchange Commission rendered BTG’s group registration statement effective on form F-4.
Based on the reports, the registration statement, which has been rendered effective, proposes a business combination between the two networks, Blue Safari and Bitdeer.
The duo made their announcement on March 27 based on the press statement.
Bitdeer is mainly known for its activities in the crypto mining space, while Blue Safari got the tag as a special purpose acquisition company. The duo intends to combine their businesses, according to the reports. The business combination proposal comes with other related recommendations.
In the same press release, the executives of Blue Safari pleaded with the shareholders to vote and pass the proposed business merger.
According to reports, BSG First Euro Investment Corp owns 49.3% of Blue Safari’s shares and will vote for the proposal.
The vote will be held at the Extraordinary General Meeting of Blue Safari on April 11, starting at 9:00 ET. Reports indicate that while the business combination vote will be the main agenda, the EGM will settle other issues.
Blue Safari will conduct the EGM and vote virtually and in actual offices. The office designated for the activity is Davis Polk & Wardwell LLP, in New York.
Further reports noted that only Blue Safari’s shareholders on record as of March 20 would get a notice for participating in the EGM.
Soon after the shareholders approve the vote, the combination will be completed, giving birth to BTG, a company to be listed on Nasdaq. Once listed on Nasdaq, Bitdeer will be valued at about $1.18 billion in this business combination.
Blue Safari first signaled this merger in 2021, originally supposed to be completed by March this year.