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.
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....