This filing brings Oxus closer to realizing its goal of helping to address global food and nutritional challenges, in partnership with an innovative food technology company Borealis.
The Oxus team has been led by CEO
Borealis, under the leadership of its co-founder and CEO
Borealis has increased its gross revenues from
Kanat Mynzhanov, CEO of Oxus, praised the partnership, stating, “Borealis is uniquely positioned to revolutionize the global food industry. We believe Borealis offers a potential pathway to a more sustainable future and is positioned to play an important role in the fight against world hunger.”
The filing of the Registration Statement is a result of the collective efforts of Oxus and Borealis and illustrates the companies’ alignment in their mission to bring affordable, sustainable food solutions to a broader market.
The Proposed Transaction is currently expected to be completed late in the fourth quarter of 2023.
The Registration Statement contains a preliminary proxy statement and prospectus in connection with the Proposed Transaction. While the Registration Statement has not yet become effective and the information contained therein is subject to change, it provides important information about Oxus, Borealis and the Proposed Transaction.
Borealis’s future strategy includes investments in innovation, supply chain capabilities, manufacturing, and marketing, reflecting a belief in the accelerating demand for their products across retail and e-commerce channels. The collaboration with Oxus represents both an expansion and a strategic alignment with a partner who shares Borealis’s values.
Additional Information and Where to Find It
This communication relates to the proposed transaction but does not contain all the information that should be considered concerning the proposed transaction and is not intended to form the basis of any investment decision or any other decision in respect of the proposed transaction. Oxus has filed with the
Investors and securities holders will be able to obtain free copies of the proxy statement/prospectus and all other relevant documents filed or that will be filed with the
NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE TRANSACTIONS DESCRIBED IN THIS PRESS RELEASE, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS PRESS RELEASE. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.
Participants in Solicitation
Oxus and Borealis and their respective directors and officers may be deemed to be participants in the solicitation of proxies from Oxus’s shareholders in connection with the Proposed Transaction. Information about Oxus’s directors and executive officers and their ownership of Oxus’s securities as well as information regarding Borealis’s directors and officers is set forth in Oxus’s filings with the
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Oxus or Borealis, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or exemptions therefrom.
Forward-Looking Statements
This communication contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Borealis and Oxus, including statements regarding the benefits of the proposed transaction, the anticipated timing of the completion of the proposed transaction, the products offered by Borealis and the markets in which it operates, the expected total addressable market for the products offered by Borealis, the sufficiency of the net proceeds of the proposed transaction to fund Borealis’s operations and business plan and Borealis’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to material risks and uncertainties and other factors, many of which are outside the control of Borealis. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, but not limited to: (i) the risk that the Proposed Transaction may not be completed in a timely manner or at all; (ii) the risk that the Proposed Transaction may not be completed by Oxus’s business combination deadline and the potential failure to obtain an extension of the business combination deadline sought by Oxus; (iii) the failure to satisfy the conditions to the consummation of the Proposed Transaction, including the adoption of the business combination agreement by the shareholders of Oxus and Borealis, the satisfaction of the minimum trust account amount following redemptions by Oxus’s public shareholders and the receipt of certain governmental and regulatory approvals, among other closing conditions; (iv) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement; (vi) the effect of the announcement or pendency of the Proposed Transaction on Borealis’s business relationships, performance, and business generally; (vii) risks that the Proposed Transaction disrupts current plans and operations of Borealis; (viii) the outcome of any legal proceedings that may be instituted against Borealis, Oxus or others related to the business combination agreement or the proposed transaction; (ix) the ability to meet listing standards of the
Non-GAAP Financial Measures
This press release uses year-over-year growth, which is a non-GAAP financial measure, to present the financial performance of Borealis. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, Borealis’s operating results or cash flow from operations or any other measure of performance as determined in accordance with GAAP. We believe that non-GAAP financial measures are useful to investors because such results may provide additional insights into trends in Borealis’s business. The presentation of these measures may not be comparable to similarly titled measures of other companies’ reports. You should review Borealis’s audited financial statements, which are included in the Registration Statement.
Media Contact:
rpl@pedrosa.uk
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