Spring Valley Acquisition today said that it postponed the Aug. 20 stockholders meeting to vote on its proposed merger with Aerofarms. The meeting has been rescheduled to Aug. 30.
As of today, the SPAC said enough Spring Valley stockholders had voted to approve the business combination, but all of the conditions to effect the closing “have not yet been satisfied.”
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. Read more.
