Adit EdTech (ADEX) Completes Griid Infrastructure Deal

Adit EdTech (NYSE: ADEX) announced this afternoon that it has closed its combination with bitcoin self-mining company Griid Infrastructure. ADEX shareholders previously approved the deal at a special meeting held on November 30.

Following the transaction, the surviving company was renamed GRIID Infrastructure Inc. Beginning on Tuesday, Jan. 2, 2024, GRIID’s common stock is expected to trade on Cboe Canada, the new business name of the NEO Exchange, under the ticker symbol “GRDI”.

However, GRIID is still in the process of seeking to list its common stock and warrants on a U.S. exchange.

While the SPAC still has not yet disclosed redemption amounts, it went into its completion vote with an aggregate of 92.75% of its trust already redeemed from previous extension meetings. Without taking into consideration redemptions from its most recent meeting, ADEX has $21.16 million in its trust.

Adit EdTech inked its $3.3 billion deal with Griid in November 2021. The New York-based company operates three bitcoin mining operations in the US powered by an electricity mix that is 70% carbon-free.