AppHarvest (APPH) to offer $40 million in common stock

AppHarvest, Inc. (NASDAQ: APPH) announced that it has commenced a $40 million underwritten public offering of shares of its common stock. AppHarvest also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering on the same terms and conditions. All of the shares of common stock are being offered by AppHarvest.

Cowen and Company, LLC is acting as book-running manager for the offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed or the actual size or terms of the offering.

The net proceeds of the offering are expected to be used for working capital and general corporate purposes.

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