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Arisz Acquisition Corp. (NASDAQ: ARIZ) announced an extension of the deadline for completing a business combination with Finfront Holding Company (BitFuFu). The Company's initial public offering sponsor, Arisz Investments LLC, has deposited $690,000 into the trust account, extending the deadline from February 22 to May 22, 2023. This marks the second of two allowable three-month extensions. The extension is crucial for allowing Arisz to finalize the proposed transaction, which is significant to its future prospects.
Arisz Acquisition Corp. (NASDAQ: ARIZ) announced on February 7, 2023, an extension of the period to complete a business combination with Finfront Holding Company (BitFuFu) from February 22, 2023, to May 22, 2023. This marks the second of two possible three-month extensions under its governing documents. The company's sponsor, Arisz Investments LLC, will deposit $690,000 into the trust account to facilitate this extension. The announcement highlights the ongoing efforts to finalize the business combination, which is crucial for the future operations and prospects of Arisz.
The merger between BitFuFu and Arisz Acquisition Corp. (ARIZ) aims to create a publicly traded company valued at approximately $1.5 billion. This transaction includes a $70 million PIPE financing led by Bitmain and Antpool, set at $10.00/share. BitFuFu forecasts a 230% YoY revenue growth, projecting around $330 million for FY 2022, and aims to increase its cloud platform hashrate significantly. The anticipated completion is in Q3 2022, with regulatory approvals pending.
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Arisz Acquisition Corp. (ARIZ) announced the exercise of an over-allotment option resulting in the issuance of an additional 900,000 units following its initial public offering. The total gross proceeds from the IPO have now reached $69 million. Units began trading on NASDAQ under the ticker symbol "ARIZU" on November 18, 2021. Each unit includes one share of common stock, rights, and a redeemable warrant. The offering was led by Chardan, and proceeds will be used for future business combinations, particularly in the healthcare sector.
Arisz Acquisition Corp. (ARIZ) announced the completion of its initial public offering, successfully selling 6,000,000 units at $10.00 each, resulting in gross proceeds of $60,000,000. The units, which began trading on NASDAQ under the symbol 'ARIZU' on November 18, 2021, consist of one share of common stock, one right to receive a fraction of a share upon a business combination, and a redeemable warrant for additional shares. Chardan was the sole book-running manager, with an option for underwriters to purchase an extra 900,000 units.
Arisz Acquisition Corp. (ARIZ) has announced the pricing of its initial public offering (IPO) of 6,000,000 units at $10.00 per unit, set to begin trading on NASDAQ under the ticker symbol ARIZU on November 18, 2021. Each unit includes one share of common stock, a right to receive 1/20 of a share upon a business combination, and a redeemable warrant for three-fourths of a share at $11.50. The offering closes on November 22, 2021, with Chardan as the sole book-running manager. A 45-day option for underwriters to purchase an additional 900,000 units is also granted.