Above Food Shareholders Approve Business Combination with Bite Acquisition

Above Food today announced that the company’s shareholders unanimously approved the merger with Bite Acquisition.

The special meeting was called in accordance with an interim order granted May 29 by the Court of King’s Bench of Alberta in connection with the arrangement. The company said it will seek a final order approving the deal on June 18. Closing remains subject to satisfaction of certain customary closing conditions, including receipt of final court, stock exchange and regulatory approvals.

Bite Acquisition shareholders unanimously approved the deal in April. Terms call for Above Food investors to receive $20.6 million in new stock, according to the SPAC’s proxy.

Based in the Canadian province of Saskatchewan, Above Food operates a vertically integrated supply chain to deliver differentiated ingredients and consumer products.

Bite in February said redemptions on an extension vote removed about $5.55 million from the SPAC’s trust, which left $25.25 million.

Deal consideration will be 100% in the form of rollover shares.

Bite originally raised $175 million in a February 2021 IPO. Read more.

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