Smart mobility-focused SPAC Arogo Capital Acquisition prices $90 million IPO

Arogo Capital Acquisition, a blank check company targeting the smart mobility and related sectors in Southeast Asia, raised $90 million by offering 9 million units at $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50.

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 plans to list on the Nasdaq under the symbol AOGOU. EF Hutton acted as sole bookrunner on the deal.