Novus Capital Corporation (NASDAQ:NOVS) announced that it has completed its combination with indoor farming venture AppHarvest following after securing shareholder approval at a special meeting Friday.
The shares and warrants of the combined entity will begin trading under on the Nasdaq under the new ticker symbols “APPH” and “APPHW,” respectively, today, February 1.
The press release did not include redemption figures, but implied they were minimal, noting that final proceeds from deal amounted to about $475 million including a $375 million PIPE and Novus went into its completion vote with about $100 million in trust. Furthermore, shareholders would have had to be significantly motivated to lose money to redeem shares at an estimated rate of $10.01 as Novus opened at $24.69 on the morning of the vote.
Novus initially announced its $549.7 million combination with AppHarvest on September 29. Morehead, Kentucky-based AppHarvest is developing a series of large-scale indoor farms aimed at efficiently producing vegetables for the domestic market to replace imports.
ADVISORS
- Cowen is serving as sole placement agent and capital markets advisor to Novus Capital.
- Blank Rome LLP is serving as legal advisor to Novus Capital.
- Cowen is serving as financial advisor to AppHarvest.
- Cooley LLP is serving as legal advisor to AppHarvest.
Exciting new things are coming for SPACInsider subscribers, and some have already arrived! This summer, SPACInsider is unveiling the SPACInsider Alerts App on iOS with an Android launch soon to follow. The app allows subscribers to stay ahead of the SPAC market with real-time, customizable filing alerts with instant notifications landing the moment that a...
At the SPAC of Dawn Futures are largely green with the CPI reading coming up, and several SPACs and de-SPACs have cause to feel bullish regardless of what the reading states. Pharma and beauty company Longevity Health (NASDAQ:XAGE) announced it will acquire plasma collection firm True Health ahead of market open in news that has...
Silver Pegasus Acquisition Corp. (NASDAQ:SPEGU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SPEGU”, Tuesday, July 15, 2025. The new SPAC plans to search within the technology sector, with a focus on semiconductors and systems solutions. Silver Pegasus Acquisition Corp.’s management...
Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...