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Adit EdTech Acquisition Corp.

ADEX · NYSE

Trust settledGRIID Infrastructure Inc. · Finished

NO ACTION REQUIRED

Nothing left to do

The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.

Cash at settlement

no closing figure

No cash-per-share figure was filed for this vehicle before it finished.

Last close

no quote on file

Daily close

Nothing left to claim

this vehicle finished

There is nothing to hand back: holders who wanted cash elected it at the vote, and the rest became shares in the buyer.

Read what happened to the cash

The floor

Trust settled

This SPAC has finished — its trust was paid out or used to close the deal, so there is nothing left to redeem

Read the reasoning behind this verdict

No price history on file yet — daily closes accumulate from the market data feed.

Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.

SpacBrain’s read

Trust settled

The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).

In plain terms

What it is
A SPAC from Adit EdTech Sponsor, LLC, listed on NYSE in January 2021.
What it's doing now
It agreed to buy GRIID Infrastructure Inc., a bitcoin mining infrastructure company. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
What you should know
Nearly all the original shareholders have already taken their money back — 2.5M shares are left of the 27.6M sold at listing. This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.

At a glance

Where it stands
Closed (deSPAC)
The business it bought
GRIID Infrastructure Inc. — Infrastructure Inc.
Industry
Information Technology — bitcoin mining infrastructure
Deal value
not stated in the filings we hold
Price vs cash at settlement
no live price on file
Cash in trust when it settled
not yet extracted into a snapshot — the filings below may state it
the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
IPO
13 January 2021
size not on file · 107.6% of each $10 unit into trust
Headquarters
2577 DUCK CREEK ROAD, CINCINNATI, OH, 45212
registered in Delaware
Lead underwriter
not extracted from the prospectus yet
Key officers
SHRIER DAVID L. (Director) · Zaccagnino Tom (Director) · Dolan Cristina (Director)
Listed securities
ADEX common
Cash held per sharenot filed for this window

This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.

Shares already handed backthe filing does not state a pre-event share count

At the 11 July 2023 event.

0001193125-23-275988opens on sec.gov in a new tab

Next date that mattersno dated event on file

Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.

Yield to redemption

Nothing left to redeem — no yield to compute.

This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.

What happened to the cash

The reasoning behind the verdict above, in the order the filings establish it.

  1. The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).

What has happened, and what is coming

3 dated milestones

Every dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.

  1. 13 January 2021IPOpassed

    IPO size not on file

  2. 23 December 2022Shares handed backpassed0001193125-23-275988opens on sec.gov in a new tab

    91.1% of the public float took the cash

  3. 11 July 2023Shares handed backpassed0001193125-23-275988opens on sec.gov in a new tab

    redemption rate not stated in the filing

The deal

terms as filed

What it is buying, on what terms, and how much of the combined company new shares take from you.

Who has already taken their money back

2 filed events

Each time shareholders were offered their cash back, some took it. Heavy cash-outs drain the account and shrink the number of shares left — whatever remains has to carry the deal.

Worst single event

91.06%

of the public float walked at a single vote

Shares redeemed, all events

25.60M

≈93% of the earliest known float

Every figure below is stated in the linked filing; nothing here is estimated.

The score

deterministic, from filed fields

ADEX is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.

Asymmetric return scoreNeither a price nor a cash-per-share figure is on file for this vehicle, and the score is a ratio between the two. Nothing is estimated to fill the gap.

The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.

See the names that are scored, and how

The company

from SEC filings
Read the full profile

Adit EdTech Acquisition Corp. was a blank-check company whose common stock traded on the New York Stock Exchange under the ticker ADEX. The company priced its initial public offering on January 13, 2021, under SEC file number 333-251641, corresponding to S-1 registration 0001193125-20-325843 filed December 23, 2020, with the pricing prospectus filed as 424B4 0001193125-21-008234. The registrant was classified under SEC SIC code 6199 (Finance Services) and self-described as a blank-check company in that prospectus. Its common ticker ADEX appeared on the cover page of its 10-K filing 0001564590-21-019034, filed April 15, 2021. The vehicle completed a business combination and no longer files, with Form 25 0001354457-24-000839 filed October 31, 2024, under 17 CFR 240.12d2-2(a)(3), evidencing that its common stock and warrants were exchanged for successor securities. EDGAR now lists SEC CIK 0001830029 under the name GRIID Infrastructure Inc.

Material findings

from the full read of every filing

Every document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.

  • DEFM14A23 September 20240001193125-24-223759opens on sec.gov in a new tab

    The consideration is $155 million minus GRIID's debts, so the value reaching shareholders shrinks dollar for dollar with the liabilities the company carries into closing - holders cannot know their proceeds until the balance sheet is struck. Excluding the controlling holder and a named individual from the vote is a majority-of-the-minority protection, unusual and genuinely favourable to public holders. Consideration is CleanSpark stock, so the value also floats with that share price.

  • S-4/A1 November 20230001193125-23-267452opens on sec.gov in a new tab

    This version fixes a hard vote date — 10:00 a.m. ET on November 30, 2023, online — with the platform address published, so a holder can work back from it. That the meeting stands in lieu of three consecutive annual meetings, 2021 through 2023, is a stated fact about the vehicle: no annual meeting was held in those years. The merger agreement dates from November 2021 and has been amended three times, the first only 24 days after signing; the registration statement is on its thirteenth amendment. No dollar or share figures appear in the extracted portion.

  • S-4/A30 October 20230001193125-23-265444opens on sec.gov in a new tab

    The vote date is fixed at 10:00 a.m. ET on November 30, 2023 with the online platform published, so it is the version a holder would work back from to a redemption deadline. That one meeting stands in lieu of three consecutive annual meetings, 2021 through 2023, is a stated fact about the vehicle rather than an inference. No dollar or share figures appear in the extracted portion.

  • S-4/A5 October 20230001193125-23-250849opens on sec.gov in a new tab

    This version fixes no vote date, time or access address, so no deadline follows from it. That the meeting stands in lieu of three consecutive annual meetings, 2021 through 2023, is stated here as in the later amendments — a fact about the vehicle, that no annual meeting was held in those years. No dollar or share figures appear in the extracted portion.

  • S-4/A13 September 20230001193125-23-233705opens on sec.gov in a new tab

    The meeting is a special meeting held in lieu of the 2021, 2022 and 2023 annual meetings — three years of annual meetings not held while this deal ran through ten amendments to the registration statement and three amendments to the merger agreement. The per-unit share numbers for GRIID's Class A, Class B and Class C membership units are all left blank, so a holder can see the 58,500,000 total but not how it splits. The filing states the market value of that consideration will fluctuate with the ADEX share price, listed on NYSE American, up to completion.

  • S-4/A7 August 20230001193125-23-205100opens on sec.gov in a new tab

    The meeting is a special meeting in lieu of the 2021, 2022 and 2023 annual meetings, all three at once, and its date, time and webcast address are blank. The per-unit figures for GRIID's Class A, Class B and Class C membership units are left blank in this version, so a holder can see the 58,500,000 aggregate but not how it splits between classes. The filing states the market value of that consideration will fluctuate with ADEX's own share price until completion; the stock trades on NYSE American under the symbol ADEX.

Show 9 more material filings
  • S-4/A14 July 20230001193125-23-187262opens on sec.gov in a new tab

    The meeting is a special meeting in lieu of the 2021, 2022 and 2023 annual meetings, held together and still undated, with the webcast address blank. The per-unit figures for GRIID's Class A, Class B and Class C membership units are left blank, so the 58,500,000 aggregate is visible but its split between classes is not. The stated assumptions also exclude the Class B units to be issued to Blockchain Capital Solutions (US) Inc. on the automatic adjustment and exercise of its warrant, so that dilution sits outside the figures given.

  • S-4/A8 June 20230001193125-23-162823opens on sec.gov in a new tab

    The meeting is described as the special meeting in lieu of the 2021, 2022 and 2023 annual meetings — three years of annual meetings not held while this transaction has been pending — and its date, time and webcast address are still blank. The consideration is a fixed 58,500,000 shares whose market value the filing says will fluctuate with ADEX's share price between the date of the document and completion. The per-unit allocation across GRIID's Class A, Class B and Class C units is left blank, and excludes Class B units issuable to Blockchain Capital Solutions on exercise of its warrant.

  • S-4/A5 May 20230001193125-23-137121opens on sec.gov in a new tab

    A single meeting standing in for three years of annual meetings is the plainest statement of how long this vehicle has been unable to close: the merger agreement was signed in 2021 and amended three times since, and the sixth amendment to the registration statement still prints the meeting's date, time and webcast address as blanks. GRIID's membership units convert into a share determined under the merger agreement rather than at a stated ratio, and post-merger GRIID continues under the Delaware Limited Liability Company Act with ADEX admitted as its sole member.

  • S-4/A6 April 20230001193125-23-093968opens on sec.gov in a new tab

    The meeting itself records how long this has taken: it is a special meeting in lieu of the 2021, 2022 and 2023 annual meetings, so ADEX has held no annual meeting across the life of the transaction. The merger agreement is on its third amendment and the registration statement on its fifth, against an original agreement signed in November 2021. The meeting's date, time and webcast address are all left blank in this version, so nothing here fixes a vote or a redemption deadline for a holder to act on.

  • S-4/A9 February 20230001193125-23-029742opens on sec.gov in a new tab

    The meeting records the delay on its face: it is a special meeting in lieu of the 2021, 2022 and 2023 annual meetings, so ADEX has held no annual meeting across the life of this transaction. The merger agreement was amended for the third time one day before this registration amendment was filed, so the terms described here had only just moved. The meeting's date, time and website address are all left blank, so nothing in this version fixes a vote or a redemption deadline a holder could act on.

  • S-4/A7 December 20220001193125-22-300143opens on sec.gov in a new tab

    ADEX had already missed two annual meetings by this version — the special meeting stands in lieu of both the 2021 and the 2022 annual meetings — against a merger agreement first signed in November 2021. The meeting's time, date and participation website are all left blank, so nothing here fixes a vote or a redemption deadline. ADEX will also amend and restate its certificate of incorporation and bylaws as part of the transaction, so the governing documents change alongside the business.

  • S-4/A16 May 20220001193125-22-151692opens on sec.gov in a new tab

    The meeting is still unscheduled at the second amendment: the time and date on the cover letter are blank, as is the website through which stockholders are to participate, so no meeting date is recorded. It remains styled as a special meeting in lieu of the 2021 annual meeting even though this document is dated in May of the following year, which means the deferred annual business and the deal vote continue to travel together on one quorum.

  • S-4/A22 March 20220001193125-22-080768opens on sec.gov in a new tab

    The vote is a special meeting held in lieu of the 2021 annual meeting, so deal approval and the deferred annual governance business ride on a single quorum. Its time and date are left blank on the cover letter of this first amendment, as is the participation website, so no meeting date is recorded. The target survives as an LLC rather than being merged out of existence: post-merger GRIID's limited liability company agreement is amended and restated to admit ADEX as its sole member, and Merger Sub's membership interests convert into equivalent interests.

  • S-423 December 20210001193125-21-366319opens on sec.gov in a new tab

    The aggregate is a par-value convention and carries no information about the deal: GRIID is private, no market exists for its securities and it has an accumulated deficit, so the price is one-third of the stated value per GRIID membership unit, $0.063548, multiplied by the 12,421,000 units expected to be exchanged and cancelled. The only usable figure on the cover is the 308,100,000 share count, which bounds the stock to be issued in the merger. A reader who converts $789,330 into a valuation, or divides it by the share count, gets a number with no economic meaning.

Filings

live EDGAR feed

Everything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.

Show the other 10 filings

The record

The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.

Show the reference detail

Unit structure

Cash in trust at IPO$10.76

from 424B3 0001193125-23-269971

Trading & liquidity

Average daily volume (20d)no volume reported on the bars we hold
Average daily $ volumeneeds both volume and a live price
Range over the bars heldnot enough price history
Total cash in trustthe trust total is not in the last XBRL stamp

Company profile

Industry (SIC)Finance Services (6199)
Registered inDelaware
Exchange · CIKNYSE · 0001830029

All filings on EDGARopens on sec.gov in a new tab

Directors & officers

Institutional holders

from SC 13G/13D

Funds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.

Show the declared stakes

7 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.

One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.

News

company wires and the financial press

Reporting we have matched to this ticker. Headlines belong to the outlets that wrote them.

Show the headlines

Sources on file

harvested pages, kept in full

Every public page we have read about this company, stored in full so a source can never go missing.

Show the sources

In plain English

tap a term to open it

Every piece of jargon this page could have used, and what it actually means.

Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected

A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.

Redemption deadlinethe last day to hand shares back for cash

Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.

Broker action datethe day your broker needs the instruction — earlier than the official date

Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.

Cash in trust / trust per sharethe cash the company is holding for each public share

Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.

Trust discountbuying below the cash held for you

Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.

Dilutionhow much of the company new shares take from you

Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.

Pro-forma equitywhat the company is valued at once the deal closes

The combined company's equity value assuming the announced terms and the redemptions that have actually happened.

ARShow much upside you get per unit of downside

SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.

De-SPACthe day the SPAC becomes the real company

The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.

Outside datethe contractual long-stop for closing the deal

A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.

Accession numberthe SEC's unique id for one filing

Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.

Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since

A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.

Ask the brain

from its filings
Data provenance & audit trail5 internal entries

Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.

ADEX — company record
UNIVERSE-IPO-INDEX2026-08-17

admitted from EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 6199 (Finance Services). The screen found it by filing SHAPE instead — S-1 2020-12-23 → 8-A12B 2021-01-08 → 424B4 2021-01-13 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 6199 + self-described blank check in 424B4 0001193125-21-008234; 424B 0001193125-21-008234 priced 2021-01-13 under S-1 0001193125-20-325843 (file 333-251641, an offering for cash); common ticker ADEX off 10-K 0001564590-21-019034 (2021-04-15); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-251641, which belongs to S-1 0001193125-20-325843 (2020-12-23) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2021-01-13). Ending PROVEN, not inferred: CLOSED per Form 25 0001354457-24-000839 (2024-10-31) — Form 25 filed under 17 CFR 240.12d2-2(a)(3) — the rule for securities that "have come to evidence other securities in substitution therefor", i.e. the shares became the successor's (class: Common Stock, Warrant). EDGAR now files this CIK as "GRIID Infrastructure Inc." — the SPAC's own name is kept here and the successor is the target. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.

SPONSOR-ID2026-08-14

sponsor "Adit EdTech Sponsor, LLC" sourced from prospectus definition (10-K/A) acc 0000950170-24-049275.

Deal — GRIID Infrastructure Inc.
UNTAGGED

[CLOSED-RENAME] EDGAR CIK 0001830029 records "Adit EdTech Acquisition Corp." ending 2023-12-29; the registrant continues as "GRIID Infrastructure Inc.". The rename is the SEC's own record of what the vehicle became, keyed by CIK. Closed 2023-12-29. No deal value is set — a rename says what was acquired, never for how much. No date column is set: Deal has announcedAt, voteDate and expectedCloseAt and nowhere to record an actual close, so the SEC's date is kept here until that column exists. [DEAL-STRUCTURE-MINED] pipeSizeM=3200, terminationFeeM=1.5 from primary filings (0001193125-21-366319, 0001193125-24-223759).

PIPE2026-08-29

pipeBasis set to UNSOURCED: the size came from the research seed / an earlier record and no filing we hold states it — surfaces now label it "unsourced"; an LLM re-read to FILED replaces this when credits allow

SEGMENT-FROM-FILING2023-11-01

OTHER -> CRYPTO, on S-4/A 0001193125-23-267452: "GRIID is an emerging American infrastructure company in the bitcoin mining sector that employs a vertically integrated self-mining strategy to develop and opera"

Back to the screenerVault note