Agrico Acquisition Corp. Announces Pricing of $125 Million Initial Public Offering
08 July 2021 - 8:31AM
Agrico Acquisition Corp. (the “Company”), a newly organized blank
check company incorporated as a Cayman Islands exempted company and
led by Chairman and CEO Brent de Jong, today announced the pricing
of its initial public offering of 12,500,000 units at an offering
price of $10.00 per unit, with each unit consisting of one Class A
ordinary share of the Company and one-half of one redeemable
warrant. Each whole warrant will entitle the holder thereof to
purchase one Class A ordinary share at $11.50 per share. The units
are expected to trade on the Nasdaq Capital Market (“NASDAQ”) under
the ticker symbol “RICOU” beginning July 8, 2021. Once the
securities comprising the units begin separate trading, the Class A
ordinary shares and the warrants are expected to be traded on the
NASDAQ under the symbols “RICO” and “RICOW,” respectively.
Maxim Group LLC is acting as sole book-running
manager for the offering.
The Company has granted the underwriters a
45-day option to purchase up to 1,875,000 additional units at the
initial public offering price to cover over-allotments, if any. The
offering is expected to close on July 12, 2021, subject to
customary closing conditions.
A registration statement relating to the
securities sold in the initial public offering was declared
effective by the U.S. Securities and Exchange Commission (the
“SEC”) on July 7, 2021. The offering is being made only by means of
a prospectus. When available, copies of the prospectus related to
this offering may be obtained from Maxim Group LLC, 300 Park
Avenue, 16th Floor, New York, New York 10022, at (212) 895-3500, or
by visiting EDGAR on the SEC’s website at www.sec.gov.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, 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.
About Agrico Acquisition Corp.
Agrico Acquisition Corp. is a blank check
company, also commonly referred to as a special purpose acquisition
company, or SPAC, formed for the purpose of effecting a merger,
share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses or
entities. While Agrico Acquisition Corp. will not limit its search
for a target company to any particular business segment, it will
concentrate its focus on targets in agriculture, horticulture, and
aquaculture that aim to improve yield, efficiency or profitability
in the production, processing, distribution, provision of capital,
or consumption of outputs, inputs, data, technology or other
services located in the Americas. For more information please visit
www.agrico.co. The information contained on, or accessible through,
the Company’s website is not incorporated by reference into this
press release, and you should not consider it a part of this press
release.
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements,” including with respect to
the Company’s initial public offering (“IPO”) and search for an
initial business combination. No assurance can be given that the
offering discussed above will be completed on the terms described,
or at all, or that the net proceeds of the offering will be used as
indicated. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of Agrico
Acquisition Corp., including those set forth in the Risk Factors
section of Agrico Acquisition Corp.’s registration statement and
preliminary prospectus for the IPO filed with the SEC. Copies are
available on the SEC's website, www.sec.gov. Agrico Acquisition
Corp. undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as
required by law.
Contact Information:
Brent de JongChief Executive OfficerAgrico Acquisition
Corp.(346) 800-5508contact@agrico.co
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