Beijing Xinyuan Yanghang Technology Co., Ltd entered into an Agreement and Plan of Merger to acquire Blue Safari Group Acquisition Corp. from BSG First Euro Investment Corp. and others in a reverse merger transaction.

Beijing Xinyuan Yanghang Technology Co., Ltd entered into an Agreement and Plan of Merger to acquire Blue Safari Group Acquisition Corp. (NasdaqCM:BSGA) from BSG First Euro Investment Corp. and others in a reverse merger transaction on November 18, 2021.

The merger agreement may be terminated by mutual consent of Blue Safari and Bitdeer; by either Blue Safari or Bitdeer if the transaction is not consummated on or before May 31, 2022, provided that the terminating party's failure to fulfill any of its obligations under the merger agreement is not the primary cause of the failure of the acquisition closing to occur by such date. The transaction is subject to certain customary closing conditions by the parties thereto, including, among others, (i) approval of the Transactions by the shareholders of Blue Safari and Bitdeer; (ii) effectiveness of the Registration Statement; (iii) expiration or termination of the waiting period under antitrust laws; (iv) receipt of approval for listing on the Nasdaq Capital Market of Blue Safari's ordinary shares; and (v) Blue Safari shall have at least $5,000,001 of net tangible assets. The Beijing Xinyuan and Blue Safari Boards of Directors have unanimously approved the transaction.

The transaction is expected to be completed in the first quarter of 2022. As of June 1, 2022, the transaction is expected to close on September 14, 2022. As of September 6, 2022, expected completion date has been extended to December 14, 2022.

Will H. Cai of Cooley LLP and Travers Thorp Alberga are serving as legal advisors China Renaissance Securities (Hong Kong) Limited is serving as financial advisor to Beijing Xinyuan. Howard Zhang of Davis Polk & Wardwell LLP, Haiwen & Partners and Nathan Powell, Jenson Ng and Vicky Wu of Ogier are serving as legal advisors to Blue Safari.