ANSC SPAC signs definitive business combination with AFA at A$780M equity; Rabobank commits A$200M debt

Agriculture & Natural Solutions Acquisition Corp

Implied equity value A$780M less net debt; per NewCo share valued at US$10.72 in the exchange.
AFA owns ~550K acres in NSW with water rights of ~45K acre-feet and livestock capacity 247K DSE.
Debt commitment letter from Coöperatieve Rabobank for A$200M to refinance AFA's credit facilities and fund buyback.
Conditions include FIRB approval, shareholder votes of both ANSC and AFA, SEC effectiveness of F-4, and listing on NYSE.
Sellers subject to six-month lock-up; sponsor agrees to waive anti-dilution on founder shares.

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