American Acquisition Opportunity Inc. Announces Closing of $100,000,000 Initial Public Offering

Rhea-AI Summary

American Acquisition Opportunity Inc. has successfully closed its initial public offering (IPO) of 10 million units at a price of $10.00 per unit, totaling $100 million. The units are set to trade on the Nasdaq Capital Market under the ticker symbol AMAOU. Each unit comprises one share of Class A common stock and half a redeemable warrant, with whole warrants allowing the purchase of one share at $11.50. The Company, a blank check company, aims to pursue business combinations primarily in land and resource sectors.

Positive

• Successful closing of IPO raising $100 million.
• Listing on Nasdaq enhances visibility and accessibility.
• Units consist of common stock and redeemable warrants, which can increase future capital.
• Focus on land and resource holding companies aligns with growth potential.

Negative

• No specific business combination target announced, creating uncertainty.
• Market competition may impact the pursuit of potential opportunities.
• Dependence on underwriters and market conditions for future unit sales.

FISHERS, IN / ACCESSWIRE / March 22, 2021 / American Acquisition Opportunity Inc. (the "Company") announced today that it has closed its initial public offering of 10,000,000 units at $10.00 per unit. The units are listed on the Nasdaq Capital Market ("Nasdaq") under the ticker symbol "AMAOU". Each unit consists of one share of the Company's Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable and will trade. Once the securities comprising the units begin separate trading, shares of the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols "AMAO" and "AMAOW", respectively.

The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on land and resource holding companies, with the potential to create, support, and/or innovate for the new economy.

Kingswood Capital Markets, division of Benchmark Investments, Inc. acted as the sole book running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from Kingswood Capital Markets, division of Benchmark Investments, Inc., Attn: Syndicate Department, 17 Battery Place, Suite 625, New York, New York 10004, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by email at syndicate@kingswoodcm.com.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission ("SEC") on March 17, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Mark LaVerghetta
Vice President of Corporate Finance & Communications
(317) 855-9926

SOURCE: American Acquisition Opportunity Inc.

View source version on accesswire.com:
https://www.accesswire.com/636798/American-Acquisition-Opportunity-Inc-Announces-Closing-of-100000000-Initial-Public-Offering

FAQ

What is the purpose of American Acquisition Opportunity Inc.'s IPO?

The IPO aims to raise capital for potential mergers or business combinations, particularly in land and resource sectors.

How much capital did American Acquisition Opportunity Inc. raise in its IPO?

The company raised a total of $100 million through its initial public offering.

What securities are included in the units offered by AMAOU?

Each unit consists of one share of Class A common stock and one-half of a redeemable warrant.

What are the expected future trading symbols for American Acquisition Opportunity Inc.?

Once separate trading begins, the Class A common stock will trade under 'AMAO' and the warrants under 'AMAOW'.

What risks are associated with the forward-looking statements in the press release?

The forward-looking statements are subject to numerous conditions that may affect the completion of the IPO and future business plans.