Acquisition of Blue Safari Group – GuruFocus.com
HONG KONG, June 1, 2022 /PRNewswire/ — Blue Safari Group Acquisition Corp. (NASDAQ: BSGA, the “Company”), a special purpose acquisition company, today announced that it has deposited into the Company’s trust account (the “Trust Account”) a total of $575,000 (representing $0.10 per Class A common share), to extend the period available to the Company to effect a business combination (the “Combination Period”) for an additional period of three (3) months, with the applicable deadline (the ” applicable time) extended by June 14, 2022 at September 14, 2022. As previously indicated, pursuant to the First Amendment of the Amended and Restated Agreement and Plan of Merger dated May 30, 2022 by and between the Company, Bitdeer Technologies Holding Company (“Bitdeer”) and the other parties named therein, Bitdeer has agreed to lend to the Company an aggregate principal amount of $1.99 million in two tranches to fund all amounts necessary to extend the combination period up to two (2) times for an additional period of three (3) months each time. The loan bears no interest and is repayable only upon closing of a business combination by the Company. On June 1, 2022the company used $575,000 the amount of the loan received to extend the Applicable Time September 14, 2022.
About Blue Safari Group Acquisition Corp.
Blue Safari Group Acquisition Corp. is a British Virgin Islands corporation incorporated as a blank check for the purpose of entering into a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more companies or entities.
This press release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. These forward-looking statements, including the successful completion of the Company’s IPO, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances about which any statement is based.
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SOURCE Blue Safari Group Acquisition Corp