HONG
KONG, Dec. 6, 2022 /PRNewswire/ -- Blue Safari
Group Acquisition Corp. (NASDAQ: BSGA, the "Company" or "Blue
Safari"), a special purpose acquisition company, announced today
that, at its extraordinary general meeting of shareholders on
December 5, 2022 (the "Meeting"), the
Company's shareholders voted in favor of the proposal to amend and
restate its amended and restated memorandum and articles of
association, giving the Company the right to extend the date by
which the Company has to complete a business combination (the
"Combination Period") up to four (4) times for an additional three
(3) months each time, from December 14,
2022 to December 14, 2023. In
connection with the Meeting, 4,031,612 Class A ordinary shares were
tendered for redemption. On December
5, 2022, the Company made a deposit of $257,758.20 to the trust account and extended the
Combination Period from December 14,
2022 to March 14, 2023.
Following such redemptions and the deposit, the amount of funds
remaining in the trust account is approximately $18.15 million.
On December 2, 2022, the Company,
Bitdeer Technologies Holding Company ("Bitdeer") and other named
parties entered into the
Second Amendment to the Amended and Restated
Agreement and Plan of Merger (dated December
15, 2021 and as amended from time to time, the "Merger
Agreement") pursuant to which the parties agreed to, among
other things, the following:
- Extends the termination date upon which either the Company or
Bitdeer may terminate the Merger Agreement, from September 1, 2022 to the earlier of (i)
June 1, 2023 and (ii) the then
applicable deadline for the Company to complete a business
combination in accordance with its organizational documents;
and
- Bitdeer to provide certain interest-free loans to the Company
with an aggregate principal amount of $2,584,141 in four tranches to fund any amount
that may be required in order to further extend the period of time
available for the Company to consummate a business combination and
for the Company's working capital. Such loans will only become
repayable upon the Acquisition Closing (as defined in the Merger
Agreement).
A Current Report on Form 8-K will be filed with the Securities
and Exchange Commission.
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.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements are typically identified by words such as
"will," "are expected to," "is anticipated," "estimated,"
"believe," "intend," "plan," "projection," "pro forma," "outlook"
or words of similar meaning. These forward-looking statements
include, but are not limited to, statements regarding the proposed
business combination (the "Business Combination") between Blue
Safari and Bitdeer, including the expected transactions and the
likelihood, timing and ability of the parties to successfully
consummate the proposed Business Combination. Such forward-looking
statements are based upon the current beliefs and expectations of
Blue Safari's and Bitdeer's management and are inherently subject
to significant business, economic and competitive uncertainties and
contingencies, many of which are difficult to predict and generally
beyond Blue Safari's or Bitdeer's control. Actual results and the
timing of events may differ materially from the results anticipated
in these forward-looking statements.
Nothing in this press release should be regarded as a
representation by any person that the forward-looking statements
set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You
should not place undue reliance on forward- looking statements,
which speak only as of the date they are made. Except as may be
required by law, neither Blue Safari nor Bitdeer undertakes any
duty to update these forward-looking statements.
Additional Information and Where to Find It
In connection with the proposed Business Combination, Blue
Safari intends to file relevant materials with the Securities and
Exchange Commission (the "SEC"), including a proxy statement which
will be part of a registration statement on Form F-4 (the
"Registration Statement") to register securities to be issued in
connection with the Business Combination, and will file other
documents regarding the proposed Business Combination with the SEC.
Blue Safari's shareholders and other interested persons are advised
to read, when available, the preliminary proxy statement/prospectus
and the amendments thereto and the definitive proxy statement to be
filed in connection with the proposed Business Combination, as
these materials will contain important information about Bitdeer,
Blue Safari, and the proposed Business Combination. Promptly after
the Registration Statement is declared effective by the SEC, Blue
Safari will mail the definitive proxy statement/prospectus and a
proxy card to each shareholder entitled to vote at the meeting
relating to the approval of the Business Combination and other
proposals set forth in the Registration Statement. Before making
any voting or investment decision, investors and shareholders of
Blue Safari are urged to carefully read the entire Registration
Statement and the proxy statement/prospectus to be included
therein, when they become available, and any other relevant
documents filed with the SEC, as well as any amendments or
supplements thereto in relation to the proposed Business
Combination, because they will contain important information about
the proposed Business Combination. The documents filed by Blue
Safari and other parties with the SEC may be obtained free of
charge at the SEC's website at www.sec.gov.
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 their directors and executive officers may be
deemed participants in the solicitation of proxies from Blue
Safari's 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 the proposed transactions will be
included in the Registration Statement for the Business Combination
when available at www.sec.gov. Information about Blue Safari's
directors and executive officers and their ownership of Blue
Safari's securities is set forth in Blue Safari's annual report on
Form 10-K for the year ended December 31,
2021. Other information regarding the interests of the
participants in the proxy solicitation will be included in the
Registration Statement pertaining to the Business Combination when
it becomes available. 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 proposed
Business Combination will be included in the Registration Statement
for the Business Combination when available.
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SOURCE Blue Safari Group Acquisition Corp