Yotta Acquisition today announced that it has filed a registration statement outlining its proposed merger with NaturalShrimp, a biotechnology aquaculture company that has developed and patented the first shrimp-focused commercially operational recirculating aquaculture system.
Yotta and NaturalShrimp announced the $275 million deal in October. A vote date on the merger has not been scheduled.
Terms call for Yotta to issue 17.5 million common shares ($175 million) to NaturalShrimp investors. In addition, the stockholders of NaturalShrimp are entitled to receive an additional 5 million common shares based on the company achieving certain revenue targets for 2024 and another 5 million shares if the company hits 2025 revenue targets. Read more.
