Infarm via Spac to the stock exchange?
According to insiders, the start-up is planning to go public via a shell company. Infarm did not initially issue a statement.
Infarm has apparently hired investment bank Goldman Sachs to explore the possibility of an initial public offering via a spac. The start-up is aiming for a valuation of one billion US dollars, as the Reuters news agency reports with reference to insiders. When asked by the agency, neither Infarm nor Goldman Sachs would comment.
Infarm only raised $100 million from investorsin early March. The money came from existing investors Atomico and Hanaco Ventures. The start-up has been working on vertical farming since 2013, using no pesticides and only a small amount of water and cultivable land. To do this, the startup builds farms inside cities, including supermarkets and restaurants.
Meanwhile, more and more young companies are planning to take the shortcut to the stock market via a Spac. Yet the empty companies already listed on the stock exchange that are looking for a start-up to take over are quite controversial.
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