Energy transition SPAC Oxus Acquisition prices $150 million IPO

Oxus Acquisition, a blank check company targeting energy transition technology in emerging markets, raised $150 million by offering 15 million units at $10. Each unit contains one share of common stock and one whole warrant, exercisable at $11.50.

Oxus Acquisition is led by CEO and Director Kanat Mynzhanov, the 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.

Oxus Acquisition plans to list on the Nasdaq under the symbol OXUSU. EarlyBirdCapital, and Sova Capital acted as joint bookrunners on the deal.