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ANDA - Andina Acquisition III News Story

$10.29 0.0  0.4%

Last Trade - 19/04/21

Small Cap
Market Cap £180.1m
Enterprise Value £179.9m
Revenue £n/a
Position in Universe 4331st / 6847

Stryve Foods, LLC to Participate in March Investor Conferences

Thu 4th March, 2021 2:00pm
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PLANO, Texas, March 04, 2021 (GLOBE NEWSWIRE) -- 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
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. III
On 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

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 under “Investors” or at under “Investor Relations”.

About Stryve Foods, LLC
Stryve 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, Amazon and over 17,000 retail stores across the U.S.
and Canada.

About Andina Acquisition Corp. III
Andina 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

Forward Looking Statements
Certain 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

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 Solicitation
This 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 Assurances
There 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 It
In 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
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 (

Participants in Solicitation
Andina 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.

Investor Relations Contact:
Raphael Gross, (203) 682-8253 

Media Relations Contact:
Cory Ziskind, (646) 277-1232 

GlobeNewswire, Inc. 2021
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