Borealis Foods and Oxus Acquisition today announced a definitive business combination agreement that values Borealis at an enterprise value pre-money of $150 million.
Borealis is a food technology company that has developed a high quality, affordable, sustainable and highly nutritious range of plant-based, ready-to-eat meals, which are sold in the US, Canada, and are expected to be soon sold in Europe, according to a press release announcing the deal.
Terms call for Borealis’ equity holders to be paid $150 million in rollover equity subject to adjustment.
The proposed transaction will require approval of both Oxus and Borealis shareholders, and is expected to close during the third quarter.
Oxus raised $152.25 million in a September 2021 IPO. Read more.
