Tether International Ltd. Amends Bitdeer Ownership Filing

TL;DR

Tether Intl. filed 13D/A amendment 2 for Bitdeer. Devasini & Van Der Velde involved.

AI Summary

On September 13, 2024, Tether International Limited filed an amendment (No. 2) to its Schedule 13D regarding Bitdeer Technologies Group. The filing indicates changes in beneficial ownership, with Giancarlo Devasini and Ludovicus Jan Van Der Velde listed as group members alongside Tether International Ltd. The filing does not specify dollar amounts or precise ownership percentages in this amendment.

Why It Matters

This amendment signals potential shifts in control or influence over Bitdeer Technologies Group by major stakeholders associated with Tether.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate strategic shifts or potential future actions by significant shareholders, impacting stock price and corporate governance.

Key Players & Entities

• Tether International Limited (company) — Filing entity
• Bitdeer Technologies Group (company) — Subject company
• Giancarlo Devasini (person) — Group member
• Ludovicus Jan Van Der Velde (person) — Group member

FAQ

Key Financial Figures

• $0.0000001 — er) Class A ordinary shares, par value $0.0000001 per share (Title of Class of Securiti
• $9.75356 — stment to the exercise price thereof to $9.75356 per share). (2) This percentage is c
• $41 million — payment of a civil monetary penalty of $41 million without admitting or denying any of the
• $18.5 million — to settle the NYAG proceeding by paying $18.5 million in penalties to the state of New York.
• $7.1923 — ought Price August 5, 2024 336,000 $7.1923 August 6, 2024 1,039,000 $8.2998
• $8.2998 — 0 $7.1923 August 6, 2024 1,039,000 $8.2998 August 7, 2024 625,000 $8.0334 Se
• $8.0334 — 000 $8.2998 August 7, 2024 625,000 $8.0334 Setpemebr 9, 2024 185,111 $5.6959
• $5.6959 — $8.0334 Setpemebr 9, 2024 185,111 $5.6959 Setpemebr 10, 2024 500,000 $5.9691
• $5.9691 — $5.6959 Setpemebr 10, 2024 500,000 $5.9691 Setpemebr 11, 2024 229,790 $6.1245
• $6.1245 — $5.9691 Setpemebr 11, 2024 229,790 $6.1245 Setpemebr 12, 2024 85,099 $6.5284
• $6.5284 — $6.1245 Setpemebr 12, 2024 85,099 $6.5284 EXHIBIT 1 Joint Filing Agreement

Filing Documents

• tm2423997d1_sc13da.htm (SC 13D/A) — 120KB
• 0001104659-24-099859.txt ( ) — 122KB

Identity and Background

Item 2. Identity and Background See the Schedule 13D, as amended, for historical information. Item 2 of Schedule 13D is amended and supplemented as follows: Certain information regarding Tether Holdings Limited, Tether International Limited and their respective executive officers and directors is set forth on Schedule A attached hereto.

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration See the Schedule 13D, as amended, for historical information. Item 3 is amended and supplemented as follows: The Reporting Person used cash to make the purchases of Common Stock listed on Schedule B hereto. 6

Interest in Securities of Issuer

Item 5. Interest in Securities of Issuer

of the Schedule 13D is amended and restated in its entirety

Item 5 of the Schedule 13D is amended and restated in its entirety to read as follows: (a) The Reporting Persons beneficially own an aggregate of 26,713,693 shares of the Issuer’s Class A Shares, inclusive of the 5,126,333 Warrant Shares(after giving effect to the adjustment to the exercise price of the Warrants to $9.75356 per share), representing 25.7% of the outstanding Class A Shares. (b) Tether Holdings Limited and Mssrs. Van der Velde and Devasini each have shared voting and dispositive power with respect to 26,713,693 of these shares. Tether International Limited has shared voting and dispositive power with respect to 23,713,693 shares. The percentages are calculated based upon 104,079,561 Class A Shares outstanding, which include (i) 98,953,228 Class A Shares outstanding as of August 20, 2024, and (ii) 5,126,333 Class A Shares that may be acquired upon the exercise of the Warrants (after giving effect to the adjustment to the exercise price thereof to $9.75356 per share). (c) Except as described in Item 3 (including Schedule B ), the Reporting Persons and persons described in Schedule A have not engaged in any transaction with respect to the Issuer’s Class A Shares during the sixty days prior to the date of filing this Schedule 13D. (d) None. (e) Not applicable.

Contracts, Arrangements, Understandings or Relationships

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer See the Schedule 13D, as amended, for historical information. Except as disclosed in the Schedule 13D, as amended, there are no such contracts, arrangements, understandings, or relationships with respect to any securities of the Company, including but not limited to transfer or voting of any of such securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss or the giving or withholding of proxies. 7

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits 1. Agreement of filing persons relating to filing of joint statement per Rule 13d-1(k). See the Schedule 13D, as amended, for historical information

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of the knowledge and belief of the undersigned, the undersigned certifies that the information set forth in this Statement on Schedule 13D is true, complete and correct. September 13, 2024 TETHER HOLDINGS LIMITED /s/ Ludovicus Jan Van der Velde Name: Ludovicus Jan Van der Velde Title: Director TETHER INTERNATIONAL LIMITED /s/ Ludovicus Jan Van der Velde Name: Ludovicus Jan Van der Velde Title: Director /s/ Ludovicus Jan Van der Velde Ludovicus Jan Van der Velde , individually /s/ Giancarlo Devasini Giancarlo Devasini , individually 8 Schedule A Executive Officers and Directors The following sets forth the name, country of citizenship, position and principal occupation of each executive officer and member of the board of directors of Tether Holdings Limited and Tether International Limited. Except as indicated below, none of the persons listed below has been convicted of a crime (other than traffic violations or similar misdemeanors) or been subject to proceedings pertaining to violations of securities laws within the past 5 years. Executive Officers and Directors of Tether Holdings Limited : Name and Citizenship Position and Principal Occupation Beneficial Ownership Chief Executive Officer None. SHRM Trustees (BVI) Limited, P.O. Box 4301, Trinity Chambers, Road Town, Tortola, British Virgin Islands, VG 1110 Giancarlo Devasini, citizen of Italy Chief Financial Officer and Director 26,713,693 (1) SHRM Trustees (BVI) Limited, P.O. Box 4301, Trinity Chambers, Road Town, Tortola, British Virgin Islands, VG 1110 Ludovicus Jan Van der Velde, citizen of the Netherlands Director 26,713,693 (1) SHRM Trustees (BVI) Limited, P.O. Box 4301, Trinity Chambers, Road Town, Tortola, British Virgin Islands, VG 1110 9 Executive Officers and Directors of Tether International Limited : Name and Citizenship Position and

View Full Filing

View this SC 13D/A filing on SEC EDGAR