NOVS - AppHarvest to go public via Novus Capital

AppHarvest has entered into a definitive business combination agreement with Novus Capital (NOVS)Transaction to provide $475M of gross proceeds to the company, including $375M 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.In addition, AppHarvest issued a $30 million convertible note to Inclusive Capital which funded on September 28, 2020 to primarily fund operations, including development of new high-tech controlled environment indoor farms, during the period prior to the close of this transaction.This note will convert to AppHarvest’s common shares in connection with the close of this transaction.Pro forma equity value of the merger is approximately $1B, 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

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AppHarvest to go public via Novus Capital