Stryve Foods, LLC (“Stryve” or “the Company”), an emerging healthy
snack platform disrupting traditional snacking categories, today
announced that the Company will participate in four investor
conferences in March.
- On March 11, 2021, the Company will
host investor meetings at the D.A. Davidson & Co. 4th Annual
Consumer Growth Conference.
- On March 12, 2021, the Company will
host investor meetings at the Loop Capital Markets’ 2021 Consumer,
Industrial, & TMT Investor Conference.
- On March 15-17, 2021, the Company
will host investor meetings at the 33rd Annual Roth Conference. The
Company will also participate on the Healthy Foods Panel beginning
at 12:30 PM ET on March 15, 2021. Please visit www.stryve.com under
“Investors” to access a weblink for the panel.
- On March 26, 2021, the Company will
host investor meetings at the Wolfe Research Restaurant, Food
Retail, & Broadlines Access Day.
Please reach out to the appropriate salesperson
at organizers of these conferences to schedule an investor
meeting.
Business Combination Agreement with
Andina Acquisition Corp. IIIOn January 28, 2021, Stryve
and Andina Acquisition Corp. III (NASDAQ: “ANDA”) (“Andina”), a
publicly-traded special purpose acquisition company, executed a
definitive agreement for a business combination (the “Business
Combination Agreement”) that would result in Stryve becoming a
public company. Upon closing of the transaction, the combined
company will be renamed Stryve Foods, Inc. and is expected to
remain listed on the NASDAQ under the ticker SNAX.
The transaction implies a post-money enterprise
valuation for the combined company of approximately $170 million at
closing, or 3.7x/1.8x projected 2021/2022 estimated revenue. It is
anticipated that the combined company will have $58 million of net
cash proceeds assuming no redemptions by the shareholders of Andina
in connection with the Business Combination. As part of the
transaction, Andina and Stryve raised over $50 million of fully
committed capital.
The Company and Andina previously hosted a joint
webcast to discuss their proposed transaction. Interested parties
may listen to the webcast and view the investor presentation with
more detailed information regarding the proposed transaction at
www.stryve.com under “Investors” or at www.andinaacquisition.com
under “Investor Relations”.
About Stryve Foods, LLCStryve
is an emerging healthy snacking platform with a mission to help
Americans snack better and live happier, better lives. The Company
is focused on manufacturing and marketing highly differentiated
healthy snacks that disrupt traditional snacking categories.
Stryve is currently building a tribe of early
adopters consisting of healthy snack seekers, many of whom are new
to the meat snack category. Stryve Beef Biltong is a delicious,
good-for-you snack made from 100% American beef – high in protein
with 0g sugar and made from nothing artificial. Founded by fitness
and nutrition enthusiasts, Stryve Biltong is on a mission to help
America snack better. Biltong is a process for air-drying meat that
originated centuries ago in South Africa and actually boasts more
protein in every bite than traditional jerky. It is made simply
–with beef, vinegar and spices – and served in slices, sticks or
slabs. Stryve Beef Biltong comes in a variety of delicious flavors,
including Original, Cajun, Hickory, Mesquite BBQ, Teriyaki, Zesty
Garlic, Hatch Green Chile, and Spicy Peri. Stryve is available on
https://stryve.com/, Amazon and over 17,000 retail stores across
the U.S. and Canada.
About Andina Acquisition Corp.
IIIAndina Acquisition Corp. III (NASDAQ: ANDA, ANDAW, and
ANDAU) is a blank check company for the purpose of entering into a
merger, share exchange, asset acquisition, share purchase,
recapitalization, reorganization or similar business combination
with one or more businesses or entities. For information about
Andina, please visit http://www.andinaacquisition.com/
Forward Looking
StatementsCertain statements made in this press release
are “forward-looking statements” within the meaning of the “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements may be identified by the use of
words such as “anticipate”, “believe”, “expect”, “estimate”,
“plan”, “outlook”, and “project” and other similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. These forward-looking statements
reflect the current analysis of existing information and are
subject to various risks and uncertainties. As a result, caution
must be exercised in relying on forward-looking statements. Due to
known and unknown risks, actual results may differ materially from
Andina’s or Stryve’s expectations or projections. The following
factors, among others, could cause actual results to differ
materially from those described in these forward-looking
statements: (i) the occurrence of any event, change or other
circumstances that could give rise to the termination of the
Business Combination Agreement; (ii) the ability of the combined
company to meet Nasdaq listing standards following the transaction
and in connection with the consummation thereof; (iii) the
inability to complete the transactions contemplated by the Business
Combination Agreement due to the failure to obtain approval of the
shareholders of Andina or other reasons; (iv) the failure to meet
the minimum cash requirements of the Business Combination Agreement
due to Andina shareholder redemptions and one or more defaults by
the investors in the private placement, and failing to obtain
replacement financing; (v) costs related to the proposed
transaction; (vi) changes in applicable laws or regulations; (viii)
the ability of the combined company to meet its financial and
strategic goals, due to, among other things, competition, the
ability of the combined company to pursue a growth strategy and
manage growth profitability; (vii) the possibility that the
combined company may be adversely affected by other economic,
business, and/or competitive factors; (viii) the effect of the
COVID-19 pandemic on Andina and Stryve and their ability to
consummate the transaction; and (ix) other risks and uncertainties
described herein, as well as those risks and uncertainties
discussed from time to time in other reports and other public
filings with the Securities and Exchange Commission (the “SEC”) by
Andina.
Additional information concerning these and
other factors that may impact Andina’s expectations and projections
can be found in Andina’s periodic filings with the SEC, including
its Annual Report on Form 10-K for the fiscal year ended December
31, 2020, the definitive proxy statement filed by Andina with the
SEC on January 4, 2021 wherein Andina sought and obtained
stockholder approval to extend the date by which Andina has to
consummate its initial business combination to April 30, 2021
(which has since been extended to July 31, 2021 as a result of
Andina signing the Business Combination Agreement) (the “Extension
Proxy”), and in the preliminary and definitive proxy statements to
be filed by Andina with the SEC regarding the transaction when
available. Andina’s SEC filings are available publicly on the SEC's
website at www.sec.gov.
The foregoing list of factors is not exclusive.
Readers are cautioned not to place undue reliance upon any
forward-looking statements, which speak only as of the date made.
Neither Andina nor Stryve undertakes or accepts any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions or circumstances
on which any such statement is based, subject to applicable
law.
No Offer or SolicitationThis
press release is for informational purposes only and shall not
constitute an offer to sell or the solicitation of an offer to buy
any securities pursuant to the proposed transactions or otherwise,
nor shall there be any sale of securities in any jurisdiction in
which the offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any
such jurisdiction. No offer of securities shall be made except by
means of a prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended.
No AssurancesThere can be no
assurance that the transactions described herein will be completed,
nor can there be any assurance, if such transactions are completed,
that the potential benefits of combining the companies will be
realized. The description of the transactions contained herein is
only a summary and is qualified in its entirety by reference to the
definitive agreements relating to the transactions, copies of which
were filed exhibits to a Current Report on Form 8-K filed by Andina
with the SEC February 8, 2021.
Important Information about the
Transactions and Where to Find ItIn connection with the
transactions described herein, Andina will file relevant materials
with the SEC, including a Form S-4 registration statement that will
include a proxy statement of Andina that constitutes a prospectus
for Andina and a definitive proxy statement for Andina’s
shareholders. Promptly after filing the registration statement with
the SEC, Andina will mail the registration statement and a proxy
card to each shareholder entitled to vote at the special meeting
relating to the business combination and related matters. INVESTORS
AND SECURITY HOLDERS ARE URGED TO READ THESE MATERIALS (INCLUDING
ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT
DOCUMENTS IN CONNECTION WITH THE TRANSACTIONS THAT ANDINA WILL FILE
WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT ANDINA, STRYVE AND THE BUSINESS
COMBINATION. The preliminary registration/proxy statement, the
definitive registration/proxy statement and other relevant
materials in connection with the transactions (when they become
available), and any other documents filed by Andina with the SEC,
may be obtained free of charge at the SEC’s website
(www.sec.gov).
Participants in
SolicitationAndina and Stryve and their respective
directors, executive officers and other members of their management
and employees, under SEC rules, may be deemed to be participants in
the solicitation of proxies of Andina’s shareholders in connection
with the proposed transaction. Investors and security holders may
obtain more detailed information regarding the names, affiliations
and interests in Andina of directors and officers of Andina in
Andina’s Annual Report on Form 10-K for the year ended December 31,
2020 which was filed with the SEC on February 18, 2021, and in
Andina’s Extension Proxy, which was filed with the SEC on January
4, 2021. Information regarding the persons who may, under SEC
rules, be deemed participants in the solicitation of proxies to
Andina’s security holders in connection with the proposed
transaction will be set forth in the registration statement/proxy
statement for the proposed transaction when available. Other
information regarding the interests of the participants in the
proxy solicitation will be included in the proxy
statement/prospectus pertaining to the proposed transactions when
it becomes available. These documents can be obtained free of
charge from the sources indicated above.
Contact:ICRInvestor Relations
Contact:Raphael Gross, (203)
682-8253raphael.gross@icrinc.com
Media Relations Contact:Cory Ziskind, (646)
277-1232cory.ziskind@icrinc.com
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