The AeroFarms Opportunity
Transaction Overview
David Rosenberg
CEO and Co-Founder
AEROFARMS®
KEY HIGHLIGHTS
Transaction Size
$232mm cash in trust from Spring Valley Acquisition Corp.
(Nasdaq: SV)1
$125mm PIPE - Sponsor, management, and board investing
$20mm+
Valuation
Guy Blanchard
CFO
AEROFARMS®
Chris Sorrells
S
CEO
Spring Valley
Acquisition Corp
Capital Structure
~$850mm pro forma enterprise value
2.6x 2025E revenue and 10.4x 2025E EBITDA²
Attractive valuation versus other leading sustainable high-
growth food peers
$347mm in cash to fund operations and accelerate growth¹
No additional equity capital requirements expected between
now and achieving free cash flow
65.0% existing shareholder equity rollover
2.7% AeroFarms convertible notes holders
Ownership
22.1% SPAC including founder shares
10.2% PIPE Investors
AEROFARMS®
1 Assumes no redemptions from Spring Valley Acquisition Corp.; includes cash to balance sheet from convertible note; assumes $40mm in transaction expenses
2 Multiples based off pro forma implied enterprise value; 2025E Revenue $329.9mm and 2025E EBITDA $82.0mm
4View entire presentation