Benson Hill Inc., a food technology company specializing in unlocking the natural genetic diversity of plants, will become publicly listed through a business combination with Star Peak Corp. II. Upon closing of the transaction, the combined company will be named Benson Hill Inc. and is expected to be listed on the New York Stock Exchange under the new ticker symbol “BHIL.” Matt Crisp, chief executive officer of Benson Hill, will lead the combined company.

“At Benson Hill, we believe the natural genetic diversity of plants has untapped potential to make great-tasting food and ingredient choices that are healthier, more sustainable, and more affordable,” said Crisp. “Since our founding in 2012, we have developed our CropOS technology platform to combine data science, plant science, and food science, a truly differentiating convergence of disciplines. As a result of this technology innovation and our go-to-market approach, we are now at the launch phase to deliver and help meet the explosive demand for plant-based ingredients that can displace processing steps, reduce additives, and serve as the ‘picks and shovels’ for the plant-based food revolution. This transaction will empower Benson Hill’s continued rapid growth and commercial expansion, providing access to resources to drive scale by strengthening our proprietary technology platform, growing partnerships across the supply chain, and expanding product commercialization efforts.?

Mike Morgan, chairman of Star Peak, commented, “Benson Hill is a truly category-defining food technology company, with a game-changing technology platform and a significant and growing addressable market, that’s the first of its kind to go public. Benson Hill and its exceptional management team perfectly align with Star Peak’s mission to provide growth capital to a market-leading business focused on sustainability and decarbonization. We believe Benson Hill is well positioned to be a market leader in the plant-based food revolution and will drive significant benefits for both human health and the planet.”

“We believe Benson Hill is at the epicenter of the evolution in our food system, with a business model that’s capable of materially transforming the sector by accelerating novel products’ paths to market and scale,” Eric Scheyer, chief executive officer of Star Peak, added. “We furthermore believe that Benson Hill represents an attractive opportunity to capitalize on the scarcity value of high-quality public food technology companies with attractive ESG characteristics.”

Following the close, Benson Hill will have a pro forma enterprise value of approximately $1.35 billion based on the $10.00 per share price of Star Peak common stock and assuming no redemptions by Star Peak shareholders.

Goldman Sachs & Co. LLC and Credit Suisse Securities (USA) LLC are serving as joint financial advisors and capital markets advisors to Star Peak and as co-placement agents on the PIPE offering. Kirkland & Ellis LLP is serving as legal advisor to Star Peak. Barclays is serving as exclusive financial advisor and capital markets advisor to Benson Hill, as well as co-placement agent on the PIPE offering. Winston & Strawn LLP is serving as legal advisor to Benson Hill.