Benzinga | Oct 14, 2021 08:07AM EDT

AeroFarms And Spring Valley Acquisition Corp. Mutually Agree To Terminate Business Combination Agreement

Dream Holdings, Inc. ("AeroFarms"), a certified B Corporation and leader in indoor vertical farming, and Spring Valley Acquisition Corp. ("Spring Valley") (NASDAQ:SV, SVSVW, SVSVU))))), a publicly traded special purpose acquisition company, announced today that both companies have mutually agreed to terminate their previously announced agreement and plan of merger (the "Business Combination Agreement"), effective immediately. Neither party will be required to pay the other a termination fee as a result of the mutual decision to terminate the Business Combination Agreement.

Spring Valley intends to continue to pursue the consummation of an initial business combination prior to the dissolution deadline of May 27, 2022 (unless such date is extended in accordance with Spring Valley's governing documents).