27 days ago • Posted by William Ramstein
AeroFarms to go public in a $1.2 billion SPAC deal
AeroFarms the vertical farming giant, agreed to go public via a SPAC deal. Investors have committed $125 million to a private investment in public equity, or PIPE, offering to support the deal. The transaction will provide about $317 million of cash to AeroFarms to fund its future farm development, they said. The merger, which has been cleared by the boards of both companies, will be subject to the approval of Spring Valley shareholders. The deal is expected to close in the second quarter, according to the statement.