Agrico Acquisition, a blank check company targeting agriculture, horticulture, and aquaculture, filed on Thursday with the SEC to raise $125 million in an initial public offering.
The Cayman Islands-based company plans to raise $125 million by offering 12.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Agrico Acquisition would command a market value of $158 million.
Agrico Acquisition is led by CEO and Chairman Brent de Jong, the Managing Partner of family investment firm De Jong Capital, and CFO Roberto Silva, who currently serves as the CFO of Oagio. The company plans to target businesses in the agriculture, horticulture, and aquaculture industries 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 ("AgTech").
Agrico Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol RICOU. Maxim Group is the sole bookrunner on the deal.
