Agrinam Acquisition Wins Extension to September to Complete Freight Farms Deal

Agrinam Acquisition announced that its shareholders voted unanimously to extend the SPAC's deadline from March 15 to Sept. 15.

Agrinam in October announced a merger agreement with Freight Farms, an agtech company focused on sustainable, hyper-local and ultra-fresh production. Agrinam proposes to acquire all of the outstanding shares of Freight Farms by way of a triangular merger including an Agrinam subsidiary. The proposed deal reflects a pro forma enterprise valuation of approximately $147 million.

Agrinam trades on the Toronto Stock Exchange.

The parties intend to raise a $20 million from Agrinam's sponsor and certain strategic and financial . Agrinam's sponsor has already delivered $4 million to Freight Farms. Read more.


Source: Agrinam Acquisition Wins Extension to September to Complete Freight Farms Deal