Borealis Foods has announced that it will commence trading on NASDAQ this week, following the completion of a business combination with Oxus Acquisition Corp.
The company, a food technology innovator known for creating high-protein, protein-based foods and shelf-stable meals for consumers, is also the creator of Chef Woo ramen noodles.
In a news release dated Feb. 7, Reza Soltanzadeh, CEO of Borealis Foods said, "Borealis' debut on the Nasdaq is an important step in our evolution as we pursue our mission of helping solve the problem of global food nutrition. Our company was founded in 2019 to address and solve a growing global crisis. Millions of people lack access to nutritious food at an affordable price, even in our own country. Our innovative, proprietary research and food technology allows us to translate this into shelf-stable, sustainable food that can satisfy people's needs but at an affordable cost. Our commitment to our mission is unwavering; at the same time, we are enthusiastic about our growth outlook, stemming from our unique product offering and vast opportunities in retail and food service."
The business combination between Borealis Foods and Oxus Acquisition Corp was first announced on Feb. 24, 2023. According to that news release, Borealis planned to go public through the acquisition process which would result in a new entity named Borealis Foods Inc., led by CEO and co-founder Soltanzadeh and Barthelemy Helg, co-founder.
Kanat Mynzhanov, CEO of Oxus Acquisition Corp., shared his thoughts on the partnership in the Feb. 24 news release saying "We have been looking for companies and technologies that have a positive, sustainable environmental impact on a global basis. Our team has been working hard to find an optimal partner to join us in this quest; we have evaluated many potential candidates and we believe that we have found an excellent partner in Borealis, as a leading platform in food tech, and Palmetto as their first successful application of such innovation on a commercial scale. We believe Borealis is uniquely positioned to revolutionize the global basic food industry."
According to a news release dated Feb. 7, 2024, Borealis will begin trading on NASDAQ on Feb. 8 under the symbol BRLS.