Appharvest announces pricing of $40 million underwritten public offering of common stock

Morehead, ky., feb. 09, 2023 (globe newswire) -- appharvest, inc. (nasdaq: apph, apphw), a sustainable food company, public benefit corporation and certified b corp building some of the world's largest high-tech indoor farms to grow affordable, nutritious fruits and vegetables at scale while providing good jobs in appalachia, today announced the pricing of its previously announced underwritten public offering of 40,000,000 shares of its common stock at a price to the public of $1.00 per share. additionally, appharvest has granted to the underwriters a 30-day option to purchase up to 6,000,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions. the gross proceeds to appharvest from the offering are expected to be approximately $40 million, before deducting underwriting discounts and commissions and estimated offering expenses. all of the shares of common stock are being offered by appharvest.
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