Adit EdTech Acquisition Corp.
ADEX-UN
New York Stock Exchange4.98
USD
+0.04
- -
CIK
0001830029
Return %
Stock
S&P500
1Y
-51.51
18.02
3Y
-51.41
64.11
5Y
-51.84
72.15
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- David Leopold Shrier
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 1345 Avenue of the Americas New York City NY United States of America 10105
- IPO Date
- Jan 12, 2021
- CIK
- 0001830029
- Website
- aditedtech.com
- Similar Companies
- Business
- Adit EdTech Acquisition Corp. (NYSE:ADEX-UN) is a special purpose acquisition company sponsored by an affiliate of Adit Ventures that focuses on effecting mergers, share exchanges, asset acquisitions, share purchases, reorganizations or similar business combinations primarily with businesses in the education, training and education technology sectors; it leverages the management team's expertise in identifying undervalued companies with potential for operational improvements, strategic enhancements and public market readiness. Incorporated in 2020 and headquartered in New York, New York, the company raised $276 million in its initial public offering on January 12, 2021, with units comprising one share of common stock and one-half of a warrant exercisable at $11.50; underwritten by EarlyBirdCapital as lead manager alongside B. Riley FBR, Maxim Group and U.S. Capital Advisors, it targeted high-growth opportunities in online learning, digital assessment, education management services, K-12 platforms, higher education tools and lifelong learning solutions across global markets. In its most significant development, Adit EdTech completed a $3.3 billion business combination with Griid Infrastructure Inc., a vertically integrated bitcoin mining company utilizing low-cost, low-carbon energy, on December 29, 2023, following stockholder approval on November 30, 2023 and an amendment vote on July 11, 2023; the surviving entity renamed GRIID Infrastructure Inc., with common stock and warrants transitioning to trade on Cboe Canada under GRDI beginning January 2, 2024, and pursuing U.S. exchange listings, while voluntarily delisting from NYSE American in anticipation of the post-combination structure. Led by CEO David L. Shrier, a professor of practice in AI and innovation at Imperial College Business School, and Chairman Eric Munson, co-founder and CIO of Adit Ventures, the SPAC operated without proprietary products beyond its acquisition vehicle but positioned itself to deliver stockholder value through Adit Capital's global investment platform and a network of industry advisors with over 150 years of combined experience in public markets. Post-merger, Adit EdTech functions as a subsidiary within GRIID Infrastructure's structure, focused on U.S. and Canadian operations in bitcoin mining infrastructure amid prior NYSE compliance efforts related to warrant accounting and delayed SEC filings.