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SPAC AXIOS Sustainable Growth Acquisition files for a $125 million IPO, targeting AgTech

January 26, 2022

AXIOS Sustainable Growth Acquisition, a blank check company targeting agriculture technology in Eastern Europe, filed on Wednesday with the SEC to raise up to $125 million in an initial public offering.

The Alpharetta, GA-based company plans to raise $125 million by offering 12.5 million units at $10. Each unit consists of one share of common stock, one a warrant, exercisable at $11.50, and one right to purchase one-twentieth of a share of common stock upon the consummation of an initial business combination. At the proposed deal size, AXIOS Sustainable Growth Acquisition would command a market value of $159 million.

The SPAC is led by CEO and Director Benedikt Förtig, who previously served as the COO of Elite Agro LLC Serbia, and Chairman Martin Richenhagen, the former CEO of AGCO, a global manufacturer and distributor of agricultural equipment. The company plans to target the AgTech sector, focusing on agricultural businesses in Eastern Europe, particularly the Black Sea region.

AXIOS Sustainable Growth Acquisition was founded in 2021, and plans to list on the NYSE under the symbol AXACU. The company filed confidentially on December 23, 2021. I-Bankers Securities is the sole bookrunner on the deal.