Above Food and Bite Acquisition today announced a definitive business combination agreement at a pro forma enterprise value of approximately $319 million. Above Food operates a vertically integrated supply chain to deliver differentiated ingredients and consumer products.

If approved, upon closing Above Food is expected to list on the NYSE under new ticker symbol ABVE.

Deal consideration will be 100% in the form of rollover shares, and the proposed transaction is expected to provide approximately $44 million of gross proceeds to fund future facility development and working capital.

Bite Acquisition raised $175 million in a February 2021 IPO, althoiugh redemptions ahead of an extension vote last December devoured 85% of the cash in trust. Read more.

Source: Above Food and Bite Acquisition Ink Merger Agreement for 9M Deal