Arogo Capital Acquisition Corp. Announces Closing of Initial Public Offering and Exercise of Full Over-Allotment Option
29 Décembre 2021 - 10:30PM
via NewMediaWire -- Arogo Capital Acquisition Corp. (the
“Company”) announced today the closing of its initial public
offering of 9,000,000 units at $10.00 per unit (the
“Offering”). Each unit consists of one share of Class A common
stock and one redeemable warrant entitling the holder thereof to
purchase one share of Class A common stock at a price of $11.50 per
share. The underwriters exercised their over-allotment option in
full for an additional 1,350,000 units on December 27, 2021, which
closed at the time of the closing of the Offering. As a result, the
aggregate gross proceeds of the Offering, including the
over-allotment, are $103.5 million, prior to deducting underwriting
discounts, commissions, and other Offering expenses.
The units have been listed on the Nasdaq Global
Market (“Nasdaq”) and began trading on December 27, 2021, under the
ticker symbol “AOGOU”. Once the securities comprising the units
begin separate trading, the shares of common stock and warrants are
expected to be listed on Nasdaq under the symbols “AOGO” and
“AOGOW”, respectively.
The Company is a blank check company whose
business purpose is to effect a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses or entities. The
Company has not selected a business combination target and has not,
nor has anyone on its behalf, initiated any substantive
discussions, directly or indirectly, with any business combination
target. The Company intends to focus its search for a target
business with operations or prospective operations in electric
vehicles (EV) technology, smart mobility or sustainable
transportation and related business ecosystems in the Asia Pacific,
primarily Southeast Asia, where the management team has extensive
experience in the information technology, transportation
operations, and manufacturing industries. The Company is led by its
Chief Executive Officer, Suradech Taweesaengsakulthai.
EF Hutton, division of Benchmark Investments LLC
(“EF Hutton”) served as sole book-running manager for the
Offering.
Nelson Mullins Riley & Scarborough LLP
served as legal counsel to the Company. The Loev Law Firm, PC
served as legal counsel to EF Hutton.
The offering was made only by means of a
prospectus. Copies of the prospectus may be obtained from EF
Hutton, division of Benchmark Investments LLC, 590 Madison Ave.,
39thF loor, New York, NY 10022, Attention: Syndicate Department, or
via email at syndicate@efhuttongroup.com or telephone at
(212) 404-7002.
The Securities and Exchange Commission (“SEC”)
declared effective a registration statement on Form S-1 relating to
these securities on December 23, 2021. A final prospectus relating
to this offering has been filed with the SEC. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy any of the securities described herein, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that
constitute "forward-looking statements," including with respect to
the Company's initial public offering and the anticipated use of
the net proceeds thereof. Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Company's registration statement and final prospectus for the
offering filed with the SEC. Copies are available on the SEC's
website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
Contact
Arogo Capital Acquisition Corp.848 Brickell
Avenue, Penthouse 5Miami, FL 33131
Suradech TaweesaengsakulthaiChief Executive
Officersuradech@cho.co.th(786) 442-1482
Arogo Capital Acquisition (NASDAQ:AOGOU)
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