AppHarvest announces pricing of $40 million underwritten public offering of common stock
10 Février 2023 - 5:12AM
AppHarvest, Inc. (NASDAQ: APPH, APPHW), a sustainable food company,
public benefit corporation and Certified B Corp building some of
the world’s largest high-tech indoor farms to grow affordable,
nutritious fruits and vegetables at scale while providing good jobs
in Appalachia, today announced the pricing of its previously
announced underwritten public offering of 40,000,000 shares of its
common stock at a price to the public of $1.00 per share.
Additionally, AppHarvest has granted to the underwriters a 30-day
option to purchase up to 6,000,000 additional shares of common
stock at the public offering price, less underwriting discounts and
commissions. The gross proceeds to AppHarvest from the offering are
expected to be approximately $40 million, before deducting
underwriting discounts and commissions and estimated offering
expenses. All of the shares of common stock are being offered by
AppHarvest.
The offering is expected to close on or about February 14, 2023,
subject to customary closing conditions. AppHarvest expects to use
the net proceeds of the offering for working capital and general
corporate purposes.
Cowen and Company, LLC is acting as sole book-running manager
for the offering. Roth Capital Partners, LLC is acting as
co-manager.
A shelf registration statement relating to the offered
securities was filed with the Securities and Exchange Commission
(SEC) and was declared effective on August 16, 2022. A preliminary
prospectus supplement and accompanying prospectus relating to the
offering have been filed with the SEC and are available on the
SEC’s website at www.sec.gov.
Copies of the final prospectus supplement and accompanying
prospectus related to the offering may be obtained, when available,
from Cowen and Company, LLC, 599 Lexington Avenue, New York, NY
10022, by email at Prospectus_ECM@cowen.com or by telephone at
(833) 297-2926.
This news release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About AppHarvest
AppHarvest is a sustainable food company in Appalachia
developing and operating some of the world’s largest high-tech
indoor farms with robotics and artificial intelligence to build a
reliable, climate-resilient food system. AppHarvest’s farms are
designed to grow produce using sunshine, rainwater and up to 90%
less water than open-field growing, all while producing yields up
to 30 times that of traditional agriculture and preventing
pollution from agricultural runoff. AppHarvest currently operates
its 60-acre flagship farm in Morehead, Ky., producing tomatoes, a
15-acre indoor farm for salad greens in Berea, Ky., a 30-acre farm
for strawberries and cucumbers in Somerset, Ky., and a 60-acre farm
in Richmond, Ky., for tomatoes. The four-farm network consists of
165 acres under glass.
Media Contact: Darla Turner, Darla.Turner@appharvest.com
Investor Contact: AppHarvestIR@appharvest.com
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