Above Food and Bite Acquisition announced today that the SEC declared effective the registration statement on their proposed merger.
Based in the Canadian province of Saskatchewan, Above Food operates a vertically integrated supply chain to deliver differentiated ingredients and consumer products.
If the SPAC’s shareholders approve the deal, upon closing Above Food is expected to be listed on the New York Stock Exchange under the ticker symbol ABVE.
Terms call for Above Food investors to receive $20.6 million in new stock, according to a proxy. A SPAC vote on the deal is set for April 29.
Bite in February said redemptions on an extension vote removed about $5.55 million from the SPAC’s trust, which left $25.25 million.
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.
