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AppHarvest
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Short description

Operator of tech-enabled greenhouses to grow non-GMO, chemical-free produce

Founded in 2017
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Company type Public Public (APPH)
Company type

Industry Group agriculture & food

Sector indoor farming

TRL Range 9
TRL 1 Basic research
TRL 2 Technology formulation
TRL 3 Applied research
TRL 4 Small scale prototype
TRL 5 Large scale prototype
TRL 6 Prototype system
TRL 7 Demonstration system
TRL 8 First of a kind commercial system
TRL 9 Full commercial application
TRL Range

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Headquarters Morehead, KY Morehead, United States
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Updated by Cleantech Group on 07/02/2024

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IPO INFORMATION

Date

02/08/2021

IPO status

Listed

IPO Type

SPAC

Amount

$475M

Initial shares

Ticker symbol

APPH

Exchange listed

NASDAQ

Prospectus URL

Prospectus

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Description

AppHarvest has entered into a definitive business combination agreement with Novus Capital Corporation (Nasdaq: NOVS) Transaction to provide $475 million of gross proceeds to the company, including $375 million fully committed common stock PIPE at $10.00 per share anchored by existing and new investors – including Fidelity Management & Research Company, LLC, Inclusive Capital and Novus Capital Corporation. Pro forma equity value of the merger is approximately $1.0 billion, at the $10.00 per share PIPE price and assuming minimal Novus shareholder redemptions Transaction advances AppHarvest’s mission to redefine American agriculture and to build America’s AgTech capital in the heart of Appalachia through the development of several large-scale controlled indoor farms.

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Date Investors Type Amount
08/01/2022 US Department of Agriculture (USDA) US Department of Agriculture (USDA) (1)
Post-money valuation of
Loans from the USDA for the construction of berry farm in Kentucky.
 Loan $50,000,000
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