AeroFarms To Merge With Spring Valley Acquisition (SPAC) and Become Public on Nasdaq

March 26, 2021

AeroFarms entered into an Agreement and Plan of Merger with Spring Valley Acquisition Corp. (Nasdaq: SV), with AeroFarms set to become a publicly traded company on Nasdaq under the ticker symbol ARFM. The deal includes an anchored PIPE and is valued at an approximately $1.2 billion pro forma equity value (assuming no redemptions), with about $317 million of unrestricted cash expected at close.

Buyers
Spring Valley Acquisition Corp. (Nasdaq: SV)
Targets
AeroFarms
Industry
Food & Beverage
Location
Virginia, United States
Transaction Type
Buyout

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