Nature’s Miracle, which is engaged in vertical farming technology and infrastructure, and Agrify announced today that both parties have signed a definitive agreement for a merger in which a new, wholly-owned subsidiary of Nature’s Miracle will merge with and into Agrify, with Agrify surviving as a wholly-owned subsidiary of Nature’s Miracle.
Nature’s Miracle went public in March via a SPAC merger with Lakeshore Acquisition II.
Agrify shareholders who support the merger will be issued 0.45 of a share of Nature’s Miracle common stock for each share of Agrify common stock that they hold. Based on the companies’ current capitalization, it is anticipated that Agrify shareholders will collectively own approximately 30% of the post-merger common stock of the combined companies. In addition, Nature’s Miracle agreed to purchase and guarantee certain senior and junior notes issued by Agrify with a combination of cash and Nature’s Miracle stock.
Nature’s Miracle provides hardware and software to design, build and operate various indoor growing settings including greenhouse, vertical farming and indoor-growing spaces. Read more.
