The meeting will reconvene on December 23, 2022. ADEX hopes to use this additional time to continue soliciting additional proxies to gain stockholder approval to extend its timeline for its business combination with bitcoin self-mining company Griid Infrastructure.
The SPAC, which IPOd in January 2021, originally had 24 months on its timeline to complete its transaction and has an upcoming deadline of January 14, 2023.
ADEX inked its $3.3 billion deal with Griid on November 30, 2021. The New York-based company operates three bitcoin mining operations in the US powered by an electricity mix that is 70% carbon-free.