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AeroFarms has cancelled its IPO. Even though you won’t be able to buy stock in AeroFarms directly, you can invest in other sustainable farming companies.
What we know about the AeroFarms SPAC deal and IPO
On October 14, 2021, AeroFarms and Spring Valley Acquisition Corp. announced that the merger that would have brought AeroFarms to the stock market was no longer taking place.
Spring Valley Acquisitions, a special purpose acquisitions company (SPAC), trades on the Nasdaq Capital Market under the ticker symbol “SV.” AeroFarms had originally planned to merge with Spring Valley and begin selling stock on the Nasdaq under the ticker symbol “ARFM.” The deal would have raised $357 million and valued AeroFarms at around $1.2 billion.
No specific reason was given for the cancellation, but there is some speculation that investor confidence in the deal had waned. This is backed by the fact that Spring Valley’s stock price jumped 10% the day the termination was announced.
No alternative IPO plan has been announced as of yet. We’ll update this page as more information becomes available.
Buy stocks in other sustainable farming companies
Although you can’t buy AeroFarms stock, you can still invest in similar publicly-traded companies.
| Company | Stock info |
|---|---|
| AppHarvest, Inc. | Nasdaq Global Select Market: APPH |
| Hydrofarm Holdings Group, Inc. | Nasdaq Global Select Market: HYFM |
| CubicFarm Systems Corp. | TSX: CUB |
| Agrify Corporation | Nasdaq Capital Market: AGFY |
| Kalera AS | OTC Markets: KSLLF |
| Village Farms International, Inc. | Nasdaq Capital Market: VFF |
| Heliospectra AB | Stockholm Stock Exchange: HELIO |
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