Benson Hill Mergers with Star Peak SPAC
Benson Hill Inc., a food technology company specializing in unlocking the natural genetic diversity of plants, will become publicly listed through a business combination with
Star Peak Corp. II. Upon closing of the transaction, the combined company will be named Benson Hill Inc. and is expected to be listed on the
New York Stock Exchange under the new ticker symbol “
BHIL.”
Matt Crisp, chief executive officer of Benson Hill, will lead the combined company.
“At Benson Hill, we believe the natural genetic diversity of plants has untapped potential to make great-tasting food and ingredient choices that are healthier, more sustainable, and more affordable,” said Crisp. “Since our founding in 2012, we have developed our CropOS technology platform to combine data science, plant science, and food science, a truly differentiating convergence of disciplines. As a result of this technology innovation and our go-to-market approach, we
Star Peak Corp II
Benson Hill – Sustainable Food Technology Company Driving the Plant-Based Food Revolution – to Combine With Star Peak Corp II
Tuesday, May 11, 2021 2:00PM IST (8:30AM GMT)
St. Louis, Evanston, Ill., United States:
Benson Hill, Inc. to become publicly listed through business combination with Star Peak Corp II (NYSE: STPC).
Founded in 2012, Benson Hill is unlocking the natural genetic diversity of plants to supply the ‘Picks and Shovels’ for the plant-based food revolution.
Company leverages artificial intelligence-driven proprietary food innovation engine, CropOS
®
, which combines data science, plant science and food science to create better tasting, more sustainable, healthier, and more affordable food choices.
Benson Hill, a crop improvement company which has developed an ultra-high protein soybean variety, will become a publicly traded company through a SPAC (special purpose acquisition company) transaction with Star Peak Corp II.
The deal will accelerate Benson Hill s proprietary CropOS AI-driven plant breeding technology, strengthen partner development efforts, support product commercialization, and expand into new agri-food markets. As a result of this technology innovation and our go-to-market approach, we are now at the launch phase to deliver and help meet the explosive demand for plant-based ingredients that can displace processing steps, reduce additives, and serve as the ‘picks and shovels’ for the plant-based food revolution,” Benson Hill CEO Matt Crisp said in a statement.
Matt Crisp is the co-founder, president and CEO of Benson Hill.
St. Louis-based Benson Hill is merging with an Illinois company that acquires private firms and takes them public.
The multibillion-dollar deal with Star Peak Corp. II will help accelerate Benson Hill’s approach to coming up with less-processed plants that are more affordable to grow. The company develops the technology using artificial intelligence, machine learning and gene editing technologies like
Benson Hill points to soybeans and yellow peas that could be key ingredients in the emerging market for meat alternatives, which is expected to grow to $140 billion by the end of the decade.
Results in over $600 million of gross cash proceeds to Stem
Stem’s common stock to begin trading on the NYSE under symbol “STEM” on April 29, 2021
MILLBRAE, Calif., April 28, 2021 (GLOBE NEWSWIRE) Stem, Inc., a global leader in artificial intelligence (AI)-driven clean energy storage services, announced today that it has completed its previously announced business combination with Star Peak Energy Transition Corp. (“Star Peak”).
The transaction was unanimously approved by Star Peak’s Board of Directors and was approved at a special meeting of Star Peak stockholders on April 27, 2021. In connection with the closing, Star Peak changed its name to Stem, Inc. (“Stem” or the “Company”). The ticker symbols for the common stock and warrants of Stem will change from “STPK” and “STPK.WS” to “STEM” and “STEM.WS” and will begin trading as such on the New York Stock Exchange on April 29, 2021.