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Plant-growing technology firm Benson Hill going public in $2 bln SPAC merger- WSJ

05/09/2021 19:21
Plant-growing technology firm Benson Hill going public in $2 bln SPAC merger- WSJ

- Benson Hill is going public by merging with a special-purpose acquisition company (SPAC) in a deal that values the plant-growing technology firm at $2 billion, the Wall Street Journal reported on Sunday.

Benson Hill is combining with the SPAC Star Peak Corp II STPC.N, the report added, citing the companies.

The deal's expected cash proceeds of about $625 million will accelerate Benson Hill's bid to bring down costs of plant-based food, Chief Executive Matt Crisp told the newspaper in an interview.

SPACs are shell companies that raise funds through an IPO to take a private company public through a merger at a later date.


(Reporting by Kanishka Singh in Bengaluru; Editing by Himani Sarkar)

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