Bitdeer Acquires Desiweminer For A Consideration Of 20M Class A Ordinary Shares Of The Company; Bitdeer Shares To Be Issued Pursuant To The Agreement Will Vest In Equal Instalments Over A Period Of 5 Or 7 Years

Author: Benzinga Newsdesk | June 06, 2024 08:09am

Bitdeer Technologies Group (NASDAQ:BTDR) ("Bitdeer" or the "Company"), a world-leading technology company for blockchain and high-performance computing, today announced that it entered into a share purchase agreement (the "Agreement") with FreeChain Inc. ("Desiweminer"), a fabless crypto ASIC design company, on June 3, 2024 to acquire all of the issued and outstanding shares of Desiweminer for a consideration of 20 million Class A ordinary shares of the Company (the "Bitdeer Shares"). A portion of the Bitdeer Shares to be issued pursuant to the Agreement will vest in equal instalments over a period of five or seven years, subject to the terms and conditions therein. Additionally, 50% of the Bitdeer Shares issued to certain sellers under the Agreement cannot be transferred for a period of six months following the closing, and the remaining 50% of the Bitdeer Shares issued to such sellers cannot be transferred for a period of twelve months following the closing.

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