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Announced

Completed

SAITECH went public via a SPAC merger with TradeUP Global in a $228m deal.

Financials

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Transaction Value£167m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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bitcoin mining

Cross Border

Majority

United Kingdom

Production Technology Equipment

De-SPAC

Merger

Private

Acquisition

Reverse Takeover

Single Bidder

Friendly

Completed

Synopsis

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SAITECH, an energy saving bitcoin mining operator, went public via a SPAC merger with TradeUP Global, a special purposes acquisition company, in a $228m deal. “Today marks an important milestone for SAI. I want to start off by thanking everyone who played a part in making SAI become a global leader in the Bitcoin mining industry and a listed company on Nasdaq,” Arthur Lee, SAITECH Founder and CEO.

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