GlobeNewswire
Summary
SAI.TECH Global Corporation (“SAI.TECH” or “SAI”), a global energy-saving bitcoin mining operator and a clean-tech company that integrates Bitcoin mining, heating and power industries, announced today that it is closing today, April 29, 2022, the previously announced business combination of SAITECH Limited and TradeUP Global Corporation ("TradeUP").
The transaction was approved by TradeUP shareholders on April 22, 2022. In connection with the transaction, TradeUP was renamed to "SAI.TECH Global Corporation." The Class A ordinary shares and warrants of SAI will commence trading on the Nasdaq Stock Market on May 2, 2022, under the new ticker symbols, "SAI" and "SAITW," respectively. Such shares and warrants also reflect the continuation of the same shares and warrants of TradeUP Global Corporation under the company’s new name following the completion of its business combination with SAITECH Limited, which has become a wholly owned subsidiary of SAI.
“Today marks an important milestone for SAI. I want to start off by thanking everyone who played a part in making SAI become a global leader in the Bitcoin mining industry and a listed company on Nasdaq,” said Arthur Lee, Founder and Chief Executive Officer of SAI.TECH. “SAI is a game changer in the global Bitcoin mining industry because our innovation goes beyond Bitcoin mining. We believe our revolutionary liquid cooling and waste heat recovery technology will reshape the computing infrastructure for the Bitcoin network while simultaneously promoting the electrification and decarbonization of the world’s traditional heating industry.”
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