Oct 2 (Reuters) - China Food Investment (CFI), a health

and agricultural biotech enterprise, has agreed to list its

shares in the U.S. via a merger with a special purpose

acquisition company (SPAC) that values the combined entity at

$523 million.

The Nasdaq-listed SPAC, Iron Horse Acquisitions ( IROH ),

said on Wednesday it will buy all of CFI's equity from its

current parent, Rosy Sea Holdings.

WHY IT'S IMPORTANT

SPACs, or blank-check companies, offer an alternative way

for firms to go public and had gained popularity in 2020, but

interest has declined due to stricter regulations and economic

challenges.

Last month, investment firm Linqto terminated its

$700-million deal to merge with black-check company Blockchain

Coinvestors Acquisition Corp to go public.

CONTEXT

CFI focuses on the production and sale of health and

agricultural biotechnology food products through subsidiaries in

Hong Kong and Mainland China.

The deal is expected to close in the first quarter of 2025.