SPAC Arogo Capital Acquisition files for a $100 million IPO

Arogo Capital Acquisition, a blank check company targeting the smart mobility and related sectors in Southeast Asia, filed on Friday with the SEC to raise up to $100 million.

The Miami, FL-based company plans to raise $100 million by offering 10 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, Arogo Capital Acquisition would command a market value of $129 million.

The company is led by CEO and Director Suradech Taweesaengsakulthai, who serves as the CEO of Cho Thavee (SET: CHO), which manufactures, sells, and services commercial vehicles with a focus on system integration for logistics systems. The company plans to target the electric vehicle technology, smart mobility, or sustainable transportation sectors in Asia Pacific, primarily Southeast Asia.

Arogo Capital Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol AOGO. EF Hutton is the sole bookrunner on the deal.