Bite Acquisition Corp.
BITE · NYSE
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC, listed on NYSE in February 2021.
- What it's doing now
- It agreed to buy Above Food Corp., a Food ingredients company company. The deal valued that business at about $206M. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- Above Food Corp.
- Industry
- Food ingredients company
- Deal value
- $206M
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 16 February 2021
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 720 N. STATE STREET, CHICAGO, IL, 60654
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- STEWART JULIA A (Director) · Gonzalez Alberto Ardura (Chief Executive Officer) · Essa Joseph C. (Director)
- Listed securities
- BITE common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
At the 29 April 2024 event.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
What has happened, and what is coming
3 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 16 February 2021IPOpassed
IPO size not on file
redemption rate not stated in the filing
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- Above Food Corp.$206MclosedFood ingredientspost-close ABVESEC primary
Who has already taken their money back
1 filed eventEach time shareholders were offered their cash back, some took it. Heavy cash-outs drain the account and shrink the number of shares left — whatever remains has to carry the deal.
Worst single event
—
no filing states a pre-event share count
Shares redeemed, all events
2.33M
across every filed redemption event
Every figure below is stated in the linked filing; nothing here is estimated.
- Apr 29, 2024Extensionno rate statedredeemed 2.33M sh0001410578-24-000934
The score
deterministic, from filed fieldsBITE is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
Bite Acquisition Corp. is a blank-check company whose common stock traded on the New York Stock Exchange under the ticker BITE. The company priced its initial public offering on February 16, 2021, as reflected in 424B prospectus filing 0001104659-21-024388. Its SEC CIK is 0001831270 and its SIC industry code is 6770 (Blank Checks). The vehicle is closed, having completed a business combination and ceased filing; this ending is established by Form 25 filed July 1, 2024 (accession 0001143313-24-000058) under 17 CFR 240.12d2-2(a)(3), indicating that the shares came to evidence other securities in substitution therefor. The BITE ticker appears on the cover page of 8-K filing 0001104659-24-054917, filed April 30, 2024.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
There is no maximum redemption threshold in the charter, so the deal can close no matter how much of the $30.9 million trust leaves — but closing does require at least $5,000,000 of cash available to the combined company net of all transaction expenses, counting trust cash, amounts above $9,000,000 under the Convertible Loan Agreement and any PIPE proceeds. Shareholders holding roughly 70% of Above Food's shares have already signed a voting agreement, and the earnout shares carry no economic or voting rights until converted.
Two and a half cents per share per month is a token deposit — across six months it adds about fifteen cents while the sponsor gains half a year of optionality. The excise tax disclosure matters more than it looks: the tax attaches to the company on redemptions, and because trust money cannot fund it, the liability sits against assets outside the trust, which are typically minimal. That raises the risk the company cannot meet obligations if redemptions are heavy.
Removing the Conversion Limitation strips out the floor that would otherwise stop redemptions from emptying the company, so the TopCo transaction could close with almost no cash while holders who stay bear that outcome. The $75,000 monthly deposit is funded by a note the deal repays rather than sponsor capital. Six months of extension authority delegated to the board removes five future redemption windows, making this vote the practical exit point.
A $250,000 monthly deposit is substantial in absolute terms and accretes to holders who stay, though it is funded by a note the deal would repay. Removing the Conversion Limitation strips out the floor that stops redemptions from emptying the vehicle. The proxy also flags the 1% excise tax risk on redemptions after December 31, 2022 for this NYSE-listed Delaware corporation, a cost that would fall on assets outside the trust.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
- What changed vs 2023-11-20deadline 2024-02-17 → 2024-08-17
combination deadline, trust account, going-concern doubt1 moved · 2 with no prior record of ours
- Combination deadline
- 2024-02-172024-08-17
- Trust account
- $200.0M · unchanged
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as 182 days later than the previous record.
The clause …“position and the uncertainty as to whether the Company will consummate a business combination or be required to liquidate by August 17, 2024, raises substantial doubt about the Company’s ability to continue as a going concern”…
The clause …“Transfer & Trust Company acting as trustee, bringing the aggregate proceeds held in the Trust Account to $200,000,000. On December 15, 2022, our stockholders approved, among other proposals, the First Extension Amendment. The First”…
The clause …“or be required to liquidate by August 17, 2024 (see Note 1), raises substantial doubt about the Company’s ability to continue as a going concern within one year after the date that these condensed financial statements have”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Bite Acquisition Corp. issued a combined proxy statement and prospectus dated April 8, 2024 for a special meeting at 11:00 a.m. Eastern time on April 29, 2024 at Greenberg Traurig's McLean, Virginia offices, asking stockholders to approve its business combination with Above Food Ingredients under the agreement as amended March 12, 2024. Based on approximately $30.9 million in the trust account on January 16, 2024, the estimated per share redemption price would have been approximately $10.71. Why it matters: There is no maximum redemption threshold in the charter, so the deal can close no matter how much of the $30.9 million trust leaves — but closing does require at least $5,000,000 of cash available to the combined company net of all transaction expenses, counting trust cash, amounts above $9,000,000 under the Convertible Loan Agreement and any PIPE proceeds. Shareholders holding roughly 70% of Above Food's shares have already signed a voting agreement, and the earnout shares carry no economic or voting rights until converted.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
No sponsor entity is named in the filings parsed for this SPAC so far.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1282 tracked SPACs (23%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
Unit: U = S + W/2 · 100.0% of the $10 unit
from 424B4 0001104659-21-024388
Trading & liquidity
Company profile
Directors & officers
- STEWART JULIA ADirector
- Gonzalez Alberto ArduraChief Executive Officer
- Essa Joseph C.Director
- Alejandre Luis DoportoDirector
- Cortes Jose Luis GuerreroChief Financial Officer
- Losa Jesus O. LanzaDirector
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
3 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- Smart Dine, LLC21.4% · SC 13DMar 1, 2021 stale
- MIZUHO FINANCIAL GROUP INC6.0% · SC 13GFeb 13, 2024 stale
- Yakira Capital Management, Inc.with 2 other reporting persons on the same schedule0.8% · SC 13G/AFeb 23, 2024 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
38 full SEC filing texts archived — searchable, never lost.
- Vault note — BITE (Bite Acquisition Corp.)
vault-note · /vault/tickers/BITE
- Vault deal note — Above Food Corp. (BITE)
vault-note · /vault/deals/above-food-corp
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail4 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001104659-21-024388 priced 2021-02-16; common ticker BITE off 8-K 0001104659-24-054917 (2024-04-30); lifecycle EXITED. Ending PROVEN, not inferred: CLOSED per Form 25 0001143313-24-000058 (2024-07-01) — Form 25 filed under 17 CFR 240.12d2-2(a)(3) — the rule for securities that "have come to evidence other securities in substitution therefor", i.e. the shares became the successor's (class: Common Stock; Units, each consisting of one share of common stock, par value $0.0001 per share and one-half of one warrant; Warrants, each whole warrant exercisable for one share of common stock at an exercise price of $11.50). ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
AI-extracted target (z-ai/glm-5.2, conf 0.95)
target recovered for a completed de-SPAC; no agreement-naming filing on file, so announcedAt is NULL rather than guessed
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read