10:01 ET - Westrock Coffee, which is merging with SPAC Riverview Acquisition Corp., isn't deterred by the negative attention on SPACs right now, CEO Scott Ford tells WSJ. Ford says the company considered an IPO but determined that merging with a SPAC would minimize fees and give the company greater control over its pricing. He says a SPAC deal is the right vehicle for Westrock, which plans to use the proceeds to expand manufacturing capacity. "We started with the premise that if people hate SPACs instead of looking at our business, it's like asking their opinion about politics instead of talking about a specific issue. There's nothing I can do about that, and I would go crazy trying to figure out how to stay ahead of the mob and what they think about the financing vehicle of the day," Ford says. (will.feuer@wsj.com; @WillFOIA)
$(END)$ Dow Jones Newswires
July 05, 2022 10:02 ET (14:02 GMT)
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