AeroFarms, a Certified B Corporation engaged in indoor vertical farming, and Spring Valley Acquisition today said that the S-4 registration statement related to their proposed merger has been declared effective by the SEC. The SPAC set an Aug. 2 meeting for stockholders to vote on the deal.
If approved, the combined company is expected to have an estimated pro forma equity value of approximately $1.2 billion and will list on the Nasdaq under ARFM.
Announced in March, terms call for AeroFarms to receive proceeds of $357 million, including a $125 million PIPE, anchored by AeroFarms insiders and Pearl Energy Investments, the sponsor of Spring Valley.
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.
AeroFarms is a sustainable indoor agriculture company based in Newark, New Jersey. Read more.
