Bitdeer Technologies Group announced that it has entered into a subscription agreement with new investor, Tether International Limited to issue 18,587,360 Class A ordinary shares at a price of $5.38 per share for the gross proceeds of $99,999,997 and a warrant to purchase up to 5,000,000 additional shares at $10 per share for the gross proceeds of $50,000,000 for the aggregate gross proceeds of $149,999,997 on May 31, 2024. The company will provide 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 is exercisable at Tether?s discretion within 12 months after closing. The securities sold in this private placement have not been registered under the Securities Act of 1933, as amended, or any state or other applicable jurisdiction?s securities laws, and may not be offered or sold in the United States without registration or an applicable exemption from such registration requirements.