It happened after Morehead, Ky-based AppHarvest and Novus Capital Corp. completed its business combination and related charter amendments.
The resulting company is named AppHarvest Inc. and its common stock and warrants have started trading on NASDAQ under the new ticker symbols “APPH” and “APPHW,” respectively Feb. 1, according to a news release.
An indoor farm builder and operator and Certified B corporation, AppHarvest has qualified to list on the NASDAQ Global Select Market, which is the highest of three tiers based on certain financial, liquidity and corporate governance requirements that the company met, according to the release.
The combined company will be led by Jonathan Webb, AppHarvest’s founder and CEO.
“Today marks an important milestone,” Webb said in the release. “The capital we raised in this transaction will further advance our mission of transforming agriculture by developing large-scale, sustainable food production in the heart of Central Appalachia.”
The boards of directors of AppHarvest and Novus Capital unanimously approved the transaction, and the transaction was also approved at a special meeting of Novus Capital shareholders Jan. 29, according to the release.
Novus Capital is a publicly traded special purpose acquisition company.
On Jan. 19, AppHarvest harvested its first crop of beefsteak tomatoes from its 60-acre flagship indoor farm in Morehead and began shipping to select national grocery retailers.
The Morehead facility is expected to produce about 45 million pounds of tomatoes annually.
Two other farms are under construction in Kentucky, one about 15 acres and the other more than 60 acres.
