singapore-based Future Dao Group Holding Limited, a blockchain mining company, and Metal Sky Star Acquisition announced today that they have entered into a merger agreement at a pre-transaction valuation of $350 million.
If approved, Future Dao will operate through a holding company listed on the nasdaq. Transaction details were scant in the press release announcing the deal.
Future Dao is in the process of establishing its Bitcoin mining operations in Central Asia. The company intends to own and operate approximately 26,100 Bitcoin mining machines by the first anniversary of the completed merger.
Metal Sky Star raised $100 million in an ipo a year ago. Read more.
Source: Future Dao Merging with Metal Sky Star Acquisition