According to a Reuters report which cites unnamed sources, Impossible Foods may be preparing for a public listing in the next 12 months which could either take the form of an IPO or a merger with a special purpose acquisition company (SPAC), at a reported value of $10 billion or over. Reuters states that Impossible has already raised $1.5 billion privately.
Above Food Corp. to Be Listed on NY Exchange Through SPAC, Plans Takeover of Atlantic Natural Foods
Canada’s Above Food, producer of plant-based ingredients and CPGs, is to list on the NY exchange through a SPAC transaction with Bite Acquisition Corp. Additionally, the company is set to purchase Atlantic Natural Foods, whose subsidiaries include plant-based brands Loma Linda, CHICK’N, and Tuno, as part of the IPO. Above Food Corp. and Bite Acquisition Corp. enter a definitive business combination agreement that values the company at a pro forma enterprise value of approximately $319 million. Upon completion of the proposed transaction, Above Food will be a publicly traded company and is expected to be listed on the NYSE under the new ticker symbol “ABVE.” Above Food is a differentiated, vertically integrated plant-based ingredients and foods company committed to regenerative agriculture and sustainable food technologies …
