Indoor vertical farming company AeroFarms and Spring Valley Acquisition filed an S-4 and preliminary proxy on their proposed merger.
Announced in March, the transaction will provide approximately $357 million to AeroFarms at closing, including a $125 million PIPE. The transaction values the combined company at a fully diluted pro forma equity value of approximately $1.2 billion assuming no redemptions by Spring Valley shareholders. The PIPE offering was anchored by AeroFarms insiders and Pearl Energy Investments, the sponsor of Spring Valley.
Pending shareholder approval, AeroFarms would become a Nasdaq-listed public company trading under ARFM. Read more.
