Arisz收购公司与Finfront签署合并协议

08:41 AM EST, 01/25/2022 (MT Newswires) -- Special purpose acquisition company Arisz Acquisition Corp. (ARIZ) has signed a business combination agreement with digital asset mining service Finfront Holding Company, also known as BitFuFu, the firms said Tuesday.

Under the deal, which values the company at approximately $1.5 billion, BitFuFu will become a publicly listed company on Nasdaq and is expected to trade under the ticker symbol "FUFU." Existing BitFuFu stockholders will retain 100% of their equity in the combined company.

The agreement is expected to provide more than $129 million in net cash proceeds to BitFuFu when it closes, which is expected to take place in Q3. The companies said the proceeds will be used to fund mining equipment purchases and infrastructure build-out. BitFuFu's management team, led by founder Leo Lu, will run the combined company after the merger.

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