Desperation can be a powerful force driving financial deal-making. For proof, look no further than the nearly two-year effort by Bitdeer Technologies Holding Co., operator of a cryptocurrency mining platform, to go public by merging with a special purpose acquisition company (SPAC) called Blue Safari Group Acquisition Corp. (BSGA.US).

Last Monday, Blue Safari said the U.S. Securities and Exchange Commission (SEC) approved its plan to merge with Bitdeer, a move that paves the way for the crypto company to land on the Nasdaq without going through the more rigorous process of a traditional IPO. Shareholders of Blue Safari will vote on the plan next Tuesday.

But at this point the merger looks all but guaranteed to get approved, as both sides try to close a deal that is already about a year past its prime.