Northern Revival Acquisition and Australian technology company Braiin Limited filed a registration statement outlining their proposed business combination.
The parties also increased the pro forma enterprise value to approximately $572 million, primarily based on acquisition agreements entered into between Braiin and Vega Global Technologies, a company with agreements to acquire Exato Technologies, Nisus Australia and Nisus Payroll . The agreements with Exato and Nisus are contingent upon the closing of the business combination with the SPAC.
Braiin provides a precision agriculture technology platform to improve traditional farm management through automation, insights, and connectivity, operating in three key divisions that provide connectivity infrastructure, drones, imagery, analytics, and actionable productivity recommendations to farms in Australia and the Asia Pacific region.
The deal between Northern Revival and Braiin was announced almost a year ago, originally at a $215 million valuation.
The business combination between Braiin and the SPAC is expected to be completed in the first quarter. Read more.
