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Andina Acquisition Corp. III has successfully completed its business combination with Stryve Foods, LLC, renaming itself to Stryve Foods, Inc.. The new company is set to trade on NASDAQ under the ticker SNAX starting July 21, 2021. This strategic move positions Stryve as a leader in the health-focused snacking market, aiming to disrupt traditional snacking categories with air-dried meat snacks that offer healthier options. The transaction included a private placement of $53.4 million to support the company's growth initiatives.
Andina Acquisition Corp. III (NASDAQ: ANDA, ANDAW, ANDAU) announced the approval of its business combination with Stryve Foods LLC. The vote achieved overwhelming support, with 99.9% of votes cast favoring the transaction, representing 84.7% of outstanding shares. The closing is expected on July 20, 2021, with trading under the new ticker SNAX commencing on or about July 21, 2021. Stryve specializes in healthy snacks, particularly air-dried meat products, and aims to disrupt traditional snacking with its unique offerings.
Andina Acquisition Corp. III (NASDAQ: ANDA, ANDAW, ANDAU) announced the SEC's declaration of its Registration Statement's effectiveness on June 25, 2021, for its special shareholder meeting scheduled on July 19, 2021. The meeting will address the proposed business combination with Stryve Foods, LLC, aimed at transitioning Stryve into a publicly traded entity under the ticker SNAX. Stryve specializes in healthy snacks, focusing on all-natural meat products. The SEC's approval marks a crucial step toward this new market entry, potentially enhancing shareholder value.
Stryve Foods, a leader in the air dried meat snack industry, presented virtually at the MicroCap Rodeo Summer Solstice conference on June 2, 2021. The company announced its business combination with Andina Acquisition Corp. III (NASDAQ: ANDA), which is set to close soon. Following the merger, Andina will be renamed Stryve Foods, Inc. and continue trading under the ticker symbol SNAX. Stryve focuses on healthy snacking, offering products that are lower in sugar and carbs and higher in protein, aiming to disrupt traditional snacking categories.
Stryve Foods, a healthy snacking company, announced the addition of over 4,000 retail locations including Target, Wawa, and Costco, expanding its retail footprint to approximately 25,000 stores by Q2 2021. This expansion supports the company's mission to provide healthier snacking options. Additionally, Stryve is set to merge with Andina Acquisition Corp. III, becoming Stryve Foods, Inc. The merger is expected to allow Stryve to maintain its NASDAQ listing under the symbol 'SNAX'.
Stryve Foods, a healthy snack company, announced its participation in four investor conferences in March 2021. These include the D.A. Davidson & Co. Consumer Growth Conference on March 11 and the Loop Capital Markets Conference on March 12. Notably, Stryve will showcase its Healthy Foods Panel at the Roth Conference from March 15-17. Furthermore, Stryve is set to merge with Andina Acquisition Corp. III, valuing the combined entity at approximately $170 million. The transaction will allow Stryve to become a public company listed on NASDAQ under the ticker SNAX.
Stryve Foods has appointed Scott McCombs as the new Chief Financial Officer, effective immediately. McCombs brings over 16 years of experience from 7-Eleven and has a strong background in finance and operations. His previous roles include senior positions at CBRE and he has been recognized for his innovative leadership. This appointment coincides with the company's business combination agreement with Andina Acquisition Corp. III, expected to close in Q2 2021, which values the combined company at $170 million and aims to provide $67 million in gross cash proceeds.
Stryve Foods, a leading healthy snacking company, has acquired Kalahari Snacks, the #2 biltong brand in the U.S. This acquisition cements Stryve's position as the largest supplier of air-dried meat snacks, now holding an impressive 85% market share according to SPINS data. The deal follows Stryve's significant growth, with nearly 50% revenue growth last year, and a planned business combination with Andina Acquisition Corp. III (NASDAQ: ANDA, ANDAW, ANDAU), expected to close in Q2 2021, transitioning Stryve into a public company.
Stryve Foods and Andina Acquisition Corp. III have announced a business combination valued at approximately $170 million. This merger is projected to bring about $67 million in cash proceeds and includes a $42.5 million PIPE deal. The transaction is expected to close in Q2 2021, leading to Stryve's public listing on NASDAQ under the ticker SNAX. Stryve aims to revolutionize the snacking industry with healthy, high-protein, low-sugar alternatives, particularly in the meat snack market. The merger is backed by significant investor commitments and a seasoned management team.
Andina Acquisition Corp. III (NASDAQ: ANDA, ANDAW, ANDAU) and EMMAC Life Sciences Limited have mutually terminated negotiations for their proposed business combination, which aimed to make EMMAC publicly traded on NASDAQ. The initial non-binding letter of intent was signed on July 22, 2020. Despite ongoing efforts by both parties to finalize the deal amidst challenging economic conditions, they could not reach a satisfactory agreement. Both companies thanked their management teams and expressed wishes for future success.
