Westrock Coffee plans to go public through a merger with Riverview Acquisition Corp. (RVAC), valuing the company at approximately $1.086 billion. The deal, projected to deliver around $500 million in gross cash proceeds, includes $250 million in PIPE commitments. Westrock anticipates 2022 revenues of about $960 million and an adjusted EBITDA of $75 million. The merger aims to accelerate expansion, enhance supply chain capabilities, and deliver sustainable products.
Riverview Acquisition Corp. has successfully priced its initial public offering (IPO) of 25,000,000 units at $10.00 each. Each unit consists of one share of common stock and one-half redeemable warrant, with full warrants exercisable at $11.50 per share. The offering is managed by Cantor Fitzgerald & Co. and Stephens Inc., who have a 45-day option to purchase up to an additional 3,750,000 units for overallotments. The Company aims to merge with consumer-focused enterprises in e-commerce, energy services, renewables, and financial sectors.