Riverview Acquisition (RVAC) shareholders are scheduled to vote on the SPAC's proposed merger with sustainable coffee distributor Westrock Coffee on Thursday, August 25. If approved, the combined company will list on the Nasdaq under the ticker “WEST” and be one of only a handful of large de-SPACs this year in the consumer staples sector, with an enterprise value of $1.1 billion. Westrock plans to brave poor market conditions, with 2022 de-SPACs averaging a -46% return. Riverview’s stock closed on Wednesday above the $10 transaction price, at $13.85, a positive sign heading into the vote.
Transaction Details
On April 4th, 2022, Riverview Acquisition and Westrock Coffee announced their business combination. The deal values Westrock at an EV of $1.1 billion, 1.1x its estimated 2022 revenue...
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