Metal Sky Star Acquisition Corp. to merge with Future Dao Group in $350M de-SPAC deal

Metal Sky Star Acquisition Corp

Merger values Future Dao at $350M; each Future Dao share to be $10.00 after share split.
Metal Sky shareholders to receive one Future Dao Class A share per share; warrants assumed and rights converted.
Transaction expected to close by end of 2023; subject to shareholder approvals, regulatory nods, and Nasdaq listing.
Sponsor and certain Future Dao shareholders entered into lock-up and voting support agreements.
Future Dao shareholders to contribute additional 1,400,000 TH/s bitcoin miners after closing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Metal Sky Star Acquisition Corp entered into Agreement and Plan of Merger with Future Dao Group Holding Limited valued at $350 million valuation for all outstanding Future Dao Ordinary Shares (effective 2023-04-12).

Action: entry
Agreement: merger
Counterparty: Future Dao Group Holding Limited
Value: $350 million valuation for all outstanding Future Dao Ordinary Shares
Effective: 2023-04-12

Exact text from the filing

On April 12, 2023, Metal Sky entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with Future Dao Group Holding Limited, a Cayman Islands exempted company (the “ Future Dao ”), and Future Dao League Limited, a Cayman Islands exempted company and wholly owned subsidiary of Future Dao (the “ Merger Sub ”).

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Metal Sky Star Acquisition Corp filing history →

Source: SEC EDGAR

accession 0001829126-23-002768

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