On May 30, 2024, Bitdeer Technologies Group (the “Company” or “Bitdeer”) entered into a Subscription Agreement (the “Subscription Agreement”) for a private placement (the “Private Placement”) with Tether International Limited, a BVI company (the “Purchaser”). Pursuant to the Subscription Agreement, the Company issued to the Purchaser (i) 18,587,360 Class A ordinary shares of the Company (the “Ordinary Shares”), and (ii) a warrant to purchase up to 5,000,000 Ordinary Shares (the “Warrant”) at an exercise price equivalent to $10.00 per Ordinary Share. Bitdeer will receive $100 million in proceeds from the private placement of Ordinary Shares, and up to an additional $50 million if the Warrant is fully exercised. The Warrant is subject to customary anti-dilution provisions reflecting share dividends and splits or other similar transactions, and weighted average anti-dilution protection with respect to the issuance of ordinary shares or ordinary share equivalents for consideration per share less than the initial exercise price of the Warrant. The Warrant will remain exercisable at the election of the Purchaser within 12 months after the closing of the Private Placement, which occurred on May 30, 2024.
$Bitdeer(BTDR)$