Rose Hill Acquisition in a proxy filing seeks an extra six months to finalize its deal with Prize, an exporter of superfruits based in Chile. The combination has an initial enterprise value of approximately $425 million.
A shareholder vote on the matter is scheduled for Jan. 5, 2023. If approved, the new deadline would be July 18, 2023.
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). The SPAC 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.
