425: Above Food to Present at Centurion One Capital's Growth Conference Ahead of Anticipated Business Combination with Bite Acquisition Corp.

Above Food Corp. will present at Centurion One Capital's Growth Conference on March 7th, 2024, as it anticipates closing its business combination with Bite Acquisition Corp. in the first half of 2024.

Summary

• Above Food Corp. will be presenting at Centurion One Capital's 7th annual Growth Conference in Toronto on March 7th, 2024.
• Martin Williams, Co-Founder, President & Chief Innovation Officer, will participate in a panel and present the Above Food story.
• Donato Sferra, Co-Founder, Executive Vice President and Head of Corporate Development, will also be attending the conference.
• Above Food entered into a definitive business combination agreement with Bite Acquisition Corp. on May 1st, 2023.
• The business combination is expected to close in the first half of 2024, pending shareholder approval and other conditions.
• Upon closing, Above Food expects to list on the New York Stock Exchange under the ticker symbol ABVE.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive. The company is presenting at a growth conference and anticipates closing a business combination, which are generally positive developments. However, the announcement also includes cautionary language about risks and uncertainties.

Positives

• Above Food has the opportunity to present its story to investors, shareholders, and partners at the Centurion One Capital Growth Conference.
• The anticipated listing on the NYSE under the ticker symbol ABVE could increase the company's visibility and access to capital.
• The business combination with Bite Acquisition Corp. is expected to provide Above Food with additional resources and expertise.

Risks

• The business combination with Bite Acquisition Corp. is subject to shareholder approval and other conditions, and may not be completed.
• The company's listing on the NYSE is dependent on the successful completion of the business combination.
• The company's future performance is subject to a number of risks and uncertainties, including changes in market conditions, competition, and regulatory requirements.

Future Outlook

Above Food anticipates closing its business combination with Bite Acquisition Corp. in the first half of 2024 and listing on the New York Stock Exchange under the ticker symbol ABVE.

Management Comments

• 'We have an exciting business, at an important inflection point, and look forward to sharing our evolving story with investors, shareholders and partners', commented Mr. Williams.

Industry Context

This announcement reflects the ongoing trend of food companies seeking growth and capital through mergers and acquisitions, particularly through SPAC transactions. Above Food is positioning itself as a differentiated player in the regenerative ingredient space, aligning with increasing consumer demand for sustainable and nutritious food options.

Comparison to Industry Standards

• It is difficult to compare Above Food to industry standards without specific financial metrics.
• However, the company's focus on vertically integrated supply chains and regenerative agriculture aligns with trends seen in companies like Benson Hill and Arcadia Biosciences, which are also focused on improving the sustainability and traceability of food production.
• The SPAC merger route is a common strategy, but its success depends on market conditions and the company's ability to deliver on its promises.

Stakeholder Impact

• Shareholders of Bite Acquisition Corp. will vote on the proposed business combination.
• If the business combination is completed, Above Food will become a publicly traded company, which could impact its employees, customers, and suppliers.

Next Steps

• Bite Acquisition Corp. shareholders need to approve the business combination.
• The business combination needs to close in the first half of 2024.
• Above Food expects to list on the New York Stock Exchange under the ticker symbol ABVE.

Key Dates