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Griid is expected to go public soon. Here's what we know about the IPO — and how to buy Griid stock when it's available.
Griid Infrastructure LLC, a US-based Bitcoin mining company that uses low-cost energy production methods in an effort to reduce its carbon footprint, has confirmed that it plans to go public by merging with Adit EdTech Acquisition Corp., a special purpose acquisitions company (SPAC).
Griid stands to receive around $200 million from the deal. The combined company is expected to have a market valuation of $3.3 billion.
Adit EdTech Acquisition Corp. currently trades on the NYSE under the ticker symbol "ADEX." After the merger, Griid will trade on the NYSE under the symbol "GRDI." The date Griid stock will begin trading has not yet been announced.
SPACs, or "blank check" companies, exist purely on paper for the purpose of going public, raising capital and merging with another company. Going public by merging with an SPAC is both quicker and easier than the traditional IPO process.
You can read more about the Griid-Adit EdTech merger in this business combination agreement submitted to the US Securities and Exchange Commission (SEC) on December 7, 2022. We'll update this page as more information becomes available.
Once Griid goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
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It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. Looking at the performance of similar companies can help you decide if now is a good time to buy Griid stock.
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