Arisz Acquisition in Deal to Take Finfront Holding Public
January 25 2022 - 8:47AM
Dow Jones News
By Chris Wack
Arisz Acquisition Corp. said it was in a deal to make Finfront
Holding Company, a digital asset mining service also known as
BitFuFu, a publicly traded company.
The special purpose acquisition company said BitFuFu will list
on Nasdaq under an anticipated ticker symbol FUFU.
The transaction values the company at a pro forma enterprise
value of $1.5 billion, Arisz and Finfront said.
The transaction is expected to provide more than $129 million in
cash proceeds to BitFuFu at closing. Existing BitFuFu stockholders
are retaining 100% of their equity in the combined company, Arisz
and Finfront said.
BitFuFu's management team, led by its founder Leo Lu, will
continue to run the company after the transaction, Arisz and
Finfront said.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 25, 2022 08:32 ET (13:32 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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