Star Peak Corp II scheduled a Sept. 28 meeting for shareholders to vote on its proposed merger with Benson Hill, a food technology company. The SPAc also said in a press release that the SEC has declared effective Star Peak’s registration statement on Form S-4 outlining the deal terms.
Pending shareholder approval, Benson Hill would have a pro forma enterprise value of approximately $1.35 billion, assuming no redemptions by Star Peak shareholders.
Announced in May, terms of the transaction call for approximately $625 million in gross proceeds to Benson Hill, including an oversubscribed and upsized $225 million fully committed PIPE at $10 per share. PIPE investors include funds and accounts managed by BlackRock, Van Eck Associates Corporation, Hedosophia, Lazard Asset Management, Post Holdings, existing Benson Hill investors and affiliates of Star Peak.
Benson Hill’s existing shareholders would convert 100 percent of their ownership stakes into the new company. Read more.
