Extraordinary general meeting of Blue Safari's shareholders
to be held on April 11, 2023 at
9:00 a.m. Eastern Time
Blue Safari recommends Blue Safari's shareholders vote "FOR"
all proposals at the extraordinary general meeting
SINGAPORE, March 27,
2023 /PRNewswire/ -- Bitdeer Technologies
Holding Company ("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 that the U.S.
Securities and Exchange Commission (the "SEC") has declared
effective the registration statement of Bitdeer Technologies Group
("BTG") on Form F-4 (as amended, the "Registration Statement")
related to the previously announced proposed business combination
of Bitdeer and Blue Safari (the "Business Combination").
The board of directors of Blue Safari recommends its
shareholders to vote in favor of the proposed Business Combination
and the related proposals described in its definitive proxy
statement dated March 27, 2023 (the
"Proxy Statement"), at Blue Safari's extraordinary general meeting
(the "EGM"). The EGM will be held at 9:00 a.m. Eastern Time on April 11, 2023 to approve, among other things,
the Business Combination. Shareholders of record of Blue Safari at
the close of business on March 20,
2023 will be entitled to receive notice of and to vote at
the EGM, which will be held virtually via live webcast at
www.cstproxy.com/bluesafarigroup/2023 and physically at the offices
of Davis Polk & Wardwell LLP,
450 Lexington Avenue, New York, NY
10017, as further described in the Proxy Statement.
The Business Combination values Bitdeer at an implied equity
value of approximately $1.18 billion.
Upon closing of the Business Combination, BTG, the combined
company, will become a publicly listed company on the Nasdaq under
the ticker "BTDR."
The Business Combination is expected to close shortly after
approval by Blue Safari's shareholders and the satisfaction of
other customary closing conditions as described in the Proxy
Statement and the Registration Statement.
A copy of each of the Proxy Statement and the Registration
Statement can be accessed via the SEC website at www.sec.gov.
The board of directors of Blue Safari recommends its
shareholders to vote "FOR" ALL PROPOSALS in advance of the EGM via
the internet or by signing, dating, and returning the proxy card
upon receipt by following the instructions on the proxy
card.
Blue Safari's sponsor, BSG First Euro Investment Corp., which
owns approximately 49.3% of Blue Safari's issued and outstanding
shares as of the record date of the EGM, has agreed to vote its
shares in favor of the Business Combination proposal at the
EGM.
Blue Safari's shareholders who have questions or need assistance
with voting may contact Karen Smith,
Advantage Proxy Inc., Blue Safari's proxy solicitor, by calling
1-877-870-8565 or 1-206-870-8565 or by emailing
ksmith@advantageproxy.com.
About Bitdeer Technologies Holding Company
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 the ability of Blue Safari and Bitdeer to
successfully or timely consummate the proposed Business
Combination, including the risk that any regulatory approvals are
not obtained, are delayed or are subject to unanticipated
conditions that could adversely affect the combined company or the
expected benefits of the proposed Business Combination or approval
of the shareholders of Blue Safari or Bitdeer; failure to realize
the anticipated benefits of the proposed Business Combination;
BTG'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 the BTG'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 Blue Safari's and BTG's vulnerability to security
breaches; risks relating to BTG's ability to manage future growth;
the effects of competition on BTG's future business; the amount of
redemption requests made by Blue Safari's public shareholders; the
ability of Blue Safari or BTG to issue equity or equity-linked
securities in connection with the proposed Business Combination or
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 or BTG's business and the global economy; and
those factors discussed in the Registration Statement 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 SEC on March 6,
2023 and other documents filed, or to be filed, by Blue
Safari 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.
Additional Information and Where to Find It
In connection with the Business Combination, BTG has filed
relevant materials with the SEC, including the Registration
Statement, which was declared effective by the SEC on March 27, 2023, and will file other documents
regarding the Business Combination with the SEC. Blue Safari's
shareholders and other interested persons are advised to read the
Proxy Statement and documents incorporated by reference therein
filed in connection with the Business Combination, as these
materials contain important information about Bitdeer, Blue Safari
and the Business Combination. Blue Safari will mail the Proxy
Statement and a proxy card to each Blue Safari's shareholder
entitled to vote at the EGM. Before making any voting or investment
decision, shareholders of Blue Safari are urged to carefully read
the entire Registration Statement, the Proxy Statement, and any
other relevant documents filed with the SEC, as well as any
amendments or supplements to these documents, because they will
contain important information about the Business Combination. The
documents filed by Blue Safari and Bitdeer with the SEC may be
obtained free of charge at the SEC's website at www.sec.gov.
No Offer or Solicitation
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities, or a solicitation
of any vote or approval, nor shall there be any sale of securities
in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Participants in the Solicitation
Blue Safari and its directors and executive officers may be
deemed participants in the solicitation of proxies from its
shareholders with respect to the Business Combination. A list of
the names of those directors and executive officers and a
description of their interests in Blue Safari and their ownership
of Blue Safari's securities are included in the Proxy Statement,
which is available at www.sec.gov. Other information regarding the
interests of the participants in the proxy solicitation is included
in the Proxy Statement pertaining to the Business Combination.
These documents can be obtained free of charge from the source
indicated above.
Bitdeer and its directors and executive officers may also be
deemed to be participants in the solicitation of proxies from the
shareholders of Blue Safari in connection with the Business
Combination. A list of the names of such directors and executive
officers and information regarding their interests in the Business
Combination are included in the Proxy Statement. These documents
can be obtained free of charge from the source indicated above
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SOURCE Blue Safari Group Acquisition Corp