On January 25, 2022, FinFront Holding Company (BitFuFu), a fast-growing digital asset mining service and world-leading cloud-mining service provider, and Arisz Acquisition Corp. (ARIZ) announced a business combination through which BitFuFu will become a publicly listed company on NASDAQ under the anticipated ticker symbol "FUFU." Wilson Sonsini Goodrich & Rosati represented BitFuFu in the transaction.

The transaction values BitFuFu at a pro forma enterprise value of approximately $1.5 billion. The transaction is expected to provide more than $129 million in net cash proceeds to BitFuFu at closing, after transaction expenses and assuming no redemptions of shares by ARIZ’s existing public stockholders. The transaction includes a $70 million fully committed PIPE financing at $10.00 pershare, led by Bitmain, a world-leading cryptocurrency mining hardware manufacturer, and Antpool, a world-leading Bitcoin mining pool. The proceeds from this transaction are expected to fund mining equipment purchases and infrastructure build-out as BitFuFu expands its leadership position in the industry.

The Wilson Sonsini team that represented BitFuFu in the transaction includes:

Corporate
Dan Ouyang, Partner
Ke Li,  Of Counsel
Veronica Liu, Associate
Celia Li, Associate

Tax
Myra Sutanto Shen, Partner
Brandon King, Associate

Antitrust and Competition
Todd Hahn, Senior Counsel