NaturalShrimp acquired by special purpose acquisition company Yotta

US-based shrimp recirculating aquaculture system (RAS) company NaturalShrimp has been acquired by special purpose acquisition company (SPAC) Yotta.

Under the agreement, NaturalShrimp will merge with a subsidiary of Yotta. Yotta’s shares will continue to be listed on the Nasdaq exchange.

The combined entity could have access to $105 million (€105 million) in cash, after transaction expenses, from a Yotta trust account.

“The deal with Yotta has the potential to accelerate our efforts for commercialization and the ramp up of production of land-based shrimp, " NaturalShrimp CEO Gerald Easterling said.