Oxus Acquisition in an 8-K filed an investor presentation highlighting its proposed merger with Borealis Foods.
The deal was announced in February 2022 and has an equity value of $225.2 million. The merger had been expected to close in the fourth quarter last year.
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. It has formed a partnership with celebrity chef Gordon Ramsay for branded high-protein products.
Borealis has increased gross revenues from $14.3 million in 2021 to $27.5 million in 2022, representing a 92.7% year-over-year growth, according to a press release at sdeal announcement. In the three months ended March 31 its gross revenues were $8.7 million.
Oxus raised $152.25 million in a September 2021 IPO, but now holds about $21.5 milllion according to the presentation. Read more.
