Novus Capital Corp

NASDAQ:NOVS   3:59:35 PM EDT
11.12
-0.03 (-0.27%)
Mergers / Acquisitions

Appharvest Has Entered Into A Business Combination Agreement With Novus Capital Corp

Published: 09/29/2020 13:54 GMT
(NOVS) - Appharvest Has Entered Into a Definitive Business Combination Agreement With Novus Capital Corporation.
Novus Capital - Pro Forma Equity Value of Merger is About $1.0 Billion, at $10.00 per Share Pipe Price and Assuming Minimal Novus Shareholder Redemptions.
Novus Capital - Upon Closing of Transaction, Combined Co Will Be Named Appharvest and is Expected to Remain Listed on Nasdaq Under a New Ticker Symbol.
Novus Capital Corp - Combined Company Will Be Led by Jonathan Webb, Appharvest's Founder & Ceo.
Novus Capital - Transaction to Provide $475 Million of Gross Proceeds.
Novus Capital Corp - Anticipated That Transaction Provides Appharvest Over $435 Million of Unrestricted Cash at Deal Close.
Novus Capital Corp - in Addition, Appharvest Issued a $30 Million Convertible Note to Inclusive Capital Which Funded on Sept 28, 2020.
Novus Capital Corp - Boards of Directors of Each of Novus Capital and Appharvest Have Unanimously Approved Transaction.