Energy transition-focused SPAC Oxus Acquisition files for a $150 million IPO

Oxus Acquisition, a blank check company targeting energy transition technology in emerging markets, filed on Tuesday with the SEC to raise up to $150 million in an initial public offering.

The Newark, DE-based company plans to raise $150 million by offering 15 million units at $10 per unit. Each unit contains one share of common stock and one whole warrant, exercisable at $11.50. At the proposed deal size, the company would command a market value of $191 million. 

Oxus Acquisition is led by CEO and Director Kanat Mynzhanov, founder and CIO of Bellprescot Asset Management, and CFO Askar Mametov, Director of private Kazkh oil and gas exploration company Kaznedraproject and former CFO of KM Gold. The company aims to leverage management's experience in the energy sector to target energy transition technologies, including battery materials, energy storage, EV infrastructure, and advanced recycling. Oxus Acquisition will focus its efforts in emerging regions including the CIS, South and South East Asia, and MENA.

The company was founded in 2021 and plans to list on the Nasdaq under the symbol OXUSU. Oxus Acquisition filed confidentially on April 2, 2021. EarlyBirdCapital, and Sova Capital are the joint bookrunners on the deal.