Bite Acquisition called an April 29 shareholder meeting to vote on the SPAC’s proposed merger with Above Food.
Terms call for Above Food investors to receive $20.6 million in new stock, according to the 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.
If the deal is approved, upon closing Above Food is expected to list on the NYSE under new ticker symbol ABVE. The transaction was announced in May last year.
Deal consideration will be 100% in the form of rollover shares.
Bite originally raised $175 million in a February 2021 IPO. Before the last round of redemptions, shareholders in December cashed-out 85% of the trust on an earlier extension vote. Read more.
