News

Arogo Capital Acquisition Corp. Announces Closing of Initial Public Offering and Exercise of Full Over-Allotment Option

Miami, FL – (NewMediaWire) – December 29, 2021 – 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., 39th

Floor, 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 5

Miami, FL 33131

 

Suradech Taweesaengsakulthai

Chief Executive Officer

suradech@cho.co.th

(786) 442-1482

Source link

The post Arogo Capital Acquisition Corp. Announces Closing of Initial Public Offering and Exercise of Full Over-Allotment Option first appeared on Smallcaps Daily.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button