Natural Order Acquisition, a blank check company focusing on technologies and products related to sustainable plant-based food and beverages, filed on Tuesday with the SEC to raise up to $250 million in an initial public offering.
The Weston, MA-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and a whole warrant to purchase one-half of a common share, exercisable at $11.50. At the proposed deal size, Natural Order Acquisition would command a market value of $313 million.
The company is led by Chairman Sebastiano Castiglioni, a Partner at Blue Horizon Group, founder and Director of private investment fund Dismatrix, and an active investor in the global plant-based food and beverage sector. He is joined by CEO and Director Paresh Patel, who has managed his own private investment office, Sandstone Investments, since 2014, and CFO Marc Volpe, who previously served as CFO of fintech asset manager Quantopian. Natural Order Acquisition plans to target businesses that are disrupting the animal-based protein and food industry, providing alternatives to one or more segments of the global food industry, including fresh and packaged animal-based meats, dairy, and seafood.
Natural Order Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol NOACU. The company filed confidentially on September 15, 2020. Chardan Capital Markets and Barclays are the joint bookrunners on the deal.
