Vertical Farming Firm AeroFarms Lands SPAC Merger To Go Public & Become Unicorn

AeroFarms, the New Jersey-headquartered indoor vertical farming firm, has struck a merger deal with black check company Spring Valley Acquisition Corp. to go public on the Nasdaq stock exchange. The transaction slated to close in the second quarter of 2021 is expected to bring in as much as US$357 million in new capital, lifting AeroFarms’ valuation to US$1.2 billion to claim unicorn status.