Rose Hill Acquisition and Inversiones e Inmobilaria GHC Ltda (dba “Prize”), an exporter of superfruits based in Chile, announced today a definitive merger agreement with an initial enterprise value of approximately $425 million.
If approved, the deal is expected to close in the first quarter of 2023. The combined company wouthefirst Chilean enterprise to initially list directly on a U.S. Exchange. Upon closing, the combined company expectsshares and warrants to trade on the Nasdaq under the ticker symbols PRZE and PRZE WS.
Rose Hill will seek a PIPE offering that, if obtained, is expected to result in $65 million in total cash proceeds to Prize after closing, including the cash held in the SPAC’s trust account (following any redemptions)
Rose Hill has also entered into a definitive $150 million standby equity purchase agreement with Yorkville Advisors as an additional equity financing source for future opportunistic expansion for the combined company. Read more.
