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Thursday / March 28. 2024
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The termination is based on Yotta’s inability to comply with the provision of its Amended and Restated Certificate of Incorporation

NaturalShrimp Incorporate a Biotechnology Aquaculture Company announced that it has terminated its previously announced Merger Agreement with Yotta Acquisition Corporation and its wholly owned subsidiary, Yotta Merger Sub, Inc.

The termination is based on Yotta’s inability to comply with the provision of its Amended and Restated Certificate of Incorporation that prohibits Yotta from consummating an initial business combination unless it has net tangible assets of at least $5,000,001 upon consummation of such initial business combination, in connection with the transactions contemplated with the Merger Agreement, which makes impossible the satisfaction of certain conditions to NaturalShrimp’s obligations to consummate, and the consummation of, such transactions.

“After working on this for almost twelve months, we are naturally disappointed in this news,” stated William Delgado, Chief Financial Officer and Treasurer of NaturalShrimp. “We are currently in negotiations with another entity which will involve a Re-IPO and a new Capital raise of between $10-$12M. This opportunity has the full support of management, its advisors, and its Investment Banking team. The timing of this Re-IPO, if executed, will result in an up list on similar timing as the previous business combination agreement. That timetable for the up list remains at the end of September-beginning of October. Our team remains highly focused on commercialization and production ramp-up of farm-to-table sushi grade shrimp and fresh seafood including a planned U.S. facility expansion, and we look forward to additional announcements in the weeks to come.”

The termination is based on Yotta’s inability

 The new company will facilitate trait development and next-generation plant breeding

Calyxt, Inc.  a plant-based synthetic biology company, and Cibus, a leader in precision gene editing in agriculture, announced that both companies have entered into a definitive merger agreement under which Calyxt and Cibus will merge in an all-stock transaction. The merger will create a new industry-leading company that combines the two pioneers in agriculture-based gene editing and establishes one of the world’s most sophisticated facilities for trait development and next-generation plant breeding.

The combined company will be a leader in two key applications for gene editing in agriculture:

Productivity Traits:

 Productivity traits are a key basis of competition in the “seed and trait” business. The key focus of Cibus’ patented gene editing platform, the Rapid Trait Development System™ (RTDS®), is the development of a new class of productivity traits in seeds addressing the sustainability of farming by increasing crop yields and reducing inputs such as fungicides, herbicides, pesticides, and fertilizers.

Renewable Low-Carbon Ingredients:

Gene editing is a key tool in the development of sustainable low-carbon ingredients that can replace fossil fuel-based ingredients and diesel fuel. This is a key pillar of the Net Carbon Zero Climate 2040 goals and the global movement to reduce greenhouse gas emissions.

Cibus has a broad pipeline of productivity traits and collaborations with several leading seed companies. It is currently launching three important productivity traits: one in canola and two in rice with transfers to customers for commercialization beginning in the first half of 2023. In addition, Cibus and Calyxt are both working with leading consumer product companies to develop more sustainable ingredients.

Under the terms of the merger agreement, Calyxt will issue shares of its common stock to Cibus shareholders in an exchange ratio such that upon completion of the merger, Calyxt shareholders will own approximately 5 per cent of the combined company, subject to adjustments permitted by the merger agreement. The Boards of Directors of both companies have unanimously approved the transaction. Concurrent with the execution of the merger agreement, certain officers of Calyxt, all of Calyxt’s directors, and Cellectis, S.A., Calyxt’s largest shareholder, executed support agreements in favor of the merger. These support agreements provide 49.9 per cent approval from Calyxt shareholders. A majority of Cibus’ shareholders have also provided support agreements in favor of the transaction. The merger is expected to close in the second quarter of 2023, subject to customary closing conditions, including approval of the merger by the shareholders of Calyxt.

 The new company will facilitate trait development

Marrone Bio will continue to operate its existing lines of business and products under the name ProFarm as a wholly owned subsidiary of Bioceres.

Bioceres Crop Solutions Corp., a fully integrated provider of crop productivity solutions designed to enable the transition of agriculture towards carbon neutrality, announced today the successful completion of its previously announced integration of Marrone Bio Innovations, Inc.

“MBI brings 15 years of experience in the development of biological solutions, and we are excited to add MBI´s unique product lineup and pipeline to Bioceres, a perfect fit to our own portfolio.”

The merger was approved by MBI stockholders at a Special Meeting held on July 8, 2022. The holders of 127,130,867 shares were present at the 2022 Special Meeting either virtually or by proxy, constituting a quorum of 69.7 per cent. The adoption of the Merger transaction, each share of MBI common stock was exchanged at closing for ordinary shares of Bioceres at a fixed exchange ratio of 0.088, representing a value of approximately $207 million, based on the Bioceres and MBI share prices at market close on July 11, 2022, and the number of current outstanding MBI shares. Newly issued Bioceres shares will commence trading on the Nasdaq Global Select Market under the symbol “BIOX”.

MBI will continue to operate its existing lines of business and products under the name ProFarm as a wholly owned subsidiary of Bioceres. North Carolina Headquarters will be discontinued, and corporate and business support functions will be assumed by Bioceres. “The resulting structure will lever expertise from ProFarm key employees, achieving a more diverse, global and cost-efficient organization, with operations in the U.S., Europe and Latin America,” said Chief Financial Officer, Enrique Lopez Lecube.

Marrone Bio will continue to operate its

The merged company will be called Rivulis (In alliance with Jain International), and will be led by current Rivulis CEO Richard Klapholz, with dual headquarters in Singapore and Israel

Rivulis Pte. Ltd. and Jain Irrigation Systems Limited had announced that they have entered into definitive transaction agreements pursuant to which Rivulis will acquire multiple overseas subsidiaries which consist of the International Irrigation Business (“IIB”) of Jain Irrigation. The transaction consideration is a combination of cash and stock. Jain Irrigation will receive stock comprising 22 per cent interest in Rivulis, the holding company of the enlarged group (the “Company”), and cash for the financing of debt issuances of the IIB and of bonds issued by Jain International Trading B.V. (the “Transaction”), to create a climate and irrigation leader globally. Temasek, a global investment company headquartered in Singapore, will become the majority shareholder of the Company with a 78 per cent stake. The transaction is subject to required regulatory approvals and other customary closing conditions.

The Company will lead the mass adoption of modern irrigation solutions and digital farming by growers and business partners globally through its focus on accessibility, innovation, and sustainability.

The Company will be dual headquartered in Singapore and Israel and will continue to be named Rivulis Pte. Ltd. For the purposes of corporate branding, the company will be represented as “Rivulis (In alliance with Jain International)”. Richard Klapholz, the current Rivulis CEO, will continue to lead the Company. Top senior associates from the IIB are expected to continue in leadership roles across the Company. Jain Irrigation will also be a supplier of irrigation products made in India to the Company for its international markets outside of India.

Anil Jain, Managing Director of Jain Irrigation, commented, “ We anticipate that the merger with Rivulis will create a world leading player ideally placed to serve its global customer base thanks to its geographic footprint, breadth of offering as well as from technological depth and expertise in micro irrigation. This will enable us all to address climate change and food security challenges with sustainable solutions and implement the critical knowledge transfer for water efficiency and productivity for growers.  The combined entity will have a truly global presence in all relevant irrigation markets, enabling strategic growth and innovation that will further Jain Irrigation’s broad vision of reaching more small and large growers by creating shared value.”

Richard Klapholz, Rivulis CEO, added: “We are thrilled to have both companies join forces to better serve the growing needs of irrigation markets around the world. While benefitting from significant operational economies of scale and a dedicated, diverse employee base, we will ensure that all commitments to our grower community and to our combined business partners are maintained and further strengthened. Our goal is to ensure that all our customers will continue to be successful and benefit from a broader offering, leading industry brands, expanded manufacturing base and the support of leading irrigation services businesses. Rivulis, before the merger, represented the combination of four companies, and through this merger, several more companies from Jain Irrigation’s portfolio will be added, cementing our role as a market consolidator and leader across the globe and creating a single company with a much stronger financial foundation.”

The merged company will be called Rivulis