Andina Acquisition III Sets Vote Date for Stryve Foods Merger

Andina Acquisition Corp.

Andina Acquisition III set a July 19 date for shareholders to vote on the SPAC’s proposed merger with healthy snack company Stryve Foods. Andina also said its s-4 registration statement on the deal was declared effective by the SEC.

The transaction values the combined company at an enterprise value of $170 million.

Upon closing, the combined company will be named Stryve Foods and is expected to trade on the Nasdaq under SNAX.

The companies in January executed definitive agreements with institutional investors for an oversubscribed common stock PIPE of $42.5 million at $10 per share. Stryve simultaneously has secured a $10.6 million bridge note offering with accredited and institutional investors with funds being made available immediately for general working capital. The bridge note offering will convert into common stock immediately prior to the closing, if shareholders approve.

Andina in May filed a prospectus on a $56 million PIPE to support the deal. Read more.

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