What Happened to AppHarvest?
Return
0.0%
Current Price
$0
Peak Price
â
Trust Size
$610M
Summary
AppHarvest was an agricultural technology company that built large-scale controlled environment agriculture facilities in Appalachia to grow produce year-round. Backed by Martha Stewart and other celebrities, the company went public via SPAC merger with Novus Capital Corporation in 2021. It filed for Chapter 11 bankruptcy in July 2023.
What Happened
Novus Capital Corporation merged with AppHarvest in February 2021 at a $1 billion valuation. The indoor farming company built massive greenhouses in Kentucky but faced severe operational challenges â crop yields were low, costs were high, and the technology didn't scale as promised. AppHarvest filed for Chapter 11 in July 2023 after burning through hundreds of millions.
Timeline
2020-05-12
S-1 Registration Filed
2024-02-14
Last SEC Filing