Australian Oilseeds and EDOC Acquisition announced they have closed their business combination. The transaction was approved earlier this month by EDOC shareholders. Australian Oilseeds said it is the largest cold pressing oil plant in Australia and the APAC region, pressing strictly GMO free conventional and organic oilseed, as a publicly-traded company.
Australian Oilseeds’ shares began trading today on the Nasdaq under the ticker symbol COOT and warrants under the symbol COOTW.
The transaction had a post-combination valuation of $190 million when announced in December 2022. The SPAC closed a $90 million IPO in November 2020. Its market cap was just below $44 million heading into the merger vote. That was further eroded by redemptions of about $7.6 million.
Australian Oilseeds directly and indirectly through its subsidiaries is focused on the manufacture and sale of sustainable, eedible oilseeds, with the goal of working with all suppliers in the food supply chain to eliminate chemicals from the production and manufacturing systems to supply quality products to customers globally. Read more.
