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Arogo Capital Acquisition Corp is a blank check company that aims to acquire one or more businesses and assets through various means like mergers and acquisitions. The company recently received a notice from Nasdaq regarding non-compliance with the minimum Market Value of Listed Securities and is working towards regaining compliance within the stipulated time frame.
As per the guidelines, the Company has 180 calendar days to regain compliance with the minimum market value requirement. Arogo Capital Acquisition Corp is focused on evaluating available options to meet Nasdaq's criteria and navigate through the compliance period effectively.
Arogo Capital Acquisition Corp. (OTC: AOGO) has signed a binding letter of intent (LOI) with Bangkok Tellink, a telecommunications and IoT solutions provider, for a potential business combination. The deal aims to make Bangkok Tellink a publicly traded company in the United States.
Bangkok Tellink, established in 2019, specializes in mobile phone signal systems across multiple frequencies and operates under the 'INFINITE' brand. Their services include Smart Solutions, IoT Sim Cards, E-sim, SMPP, SIP trunk, and software development.
The proposed combination would give Bangkok Tellink enhanced access to U.S. capital markets, potentially accelerating their technology rollout and geographic expansion. However, the material terms are still under negotiation, and there's no assurance the transaction will be completed.
Arogo Capital Acquisition Corp. (Nasdaq: AOGO/AOGOU/AOGOW) has received a delisting notice from Nasdaq on August 12, 2024. The company is not compliant with the Nasdaq Listing Rule 5450(b)(2)(C), which requires a minimum market value of publicly held shares of $15,000,000. Arogo has a 180-day compliance period until February 8, 2025, to regain compliance by maintaining the required market value for at least 10 consecutive business days. If unsuccessful, the company may face delisting, with an option to appeal. This notice does not immediately affect Arogo's Nasdaq listing, and the company will monitor the situation and consider available options to regain compliance.
Arogo Capital Acquisition Corp. (Nasdaq: AOGO/AOGOU/AOGOW) has received a delisting notice from Nasdaq on July 31, 2024. The company failed to comply with two listing requirements: maintaining a Market Value of Listed Securities of at least $50 million and having at least 400 total holders. Arogo has until August 7, 2024, to appeal the decision. The company has submitted a timely appeal and requested a hearing before the Nasdaq Hearing Panel, along with a $20,000 fee. This action automatically stays the suspension of Arogo's securities pending the hearing. However, there is no guarantee that Arogo will receive a favorable decision or maintain its Nasdaq listing.
Arogo Capital Acquisition Corp. (Nasdaq: AOGO/AOGOU/AOGOW) announced on March 28, 2023, that its stockholders approved an extension for completing its business combination with EON Reality, Inc. This extension moves the deadline from March 29, 2023, to December 29, 2023. At a special meeting held on March 24, 2023, shareholders directed the company to deposit $191,666 into the trust account as part of the extension payment. Following the redemption, Arogo will have approximately 5,552,745 shares outstanding. The merger with EON Reality, renowned for its augmented and virtual reality innovations, aims to enhance market opportunities and drive growth.
Arogo Capital Acquisition Corp. (NASDAQ: AOGOU) has filed a registration statement with the SEC regarding its proposed merger with EON Reality, valued at $655 million. The merger, initially agreed upon on April 25, 2022, is expected to close in the first half of 2023, pending shareholder approval and regulatory conditions. EON Reality specializes in augmented and virtual reality for education and industry, boasting over 1.8 million licenses globally. Post-merger, Arogo will be renamed EON Reality Holdings, Inc., with its stock trading under new symbols on Nasdaq.
EON Reality, Inc. is set to become a public company listed on NASDAQ post a definitive business combination with Arogo Capital Acquisition Corp. This transaction solidifies EON Reality's standing in the AR/VR training solutions sector, valuing the enterprise at approximately $655 million. The merger is expected to provide around $101 million in cash proceeds to EON Reality's balance sheet, following approval by Arogo’s stockholders and regulatory bodies. The company, founded on the principle that knowledge is a human right, has established itself as a leader in XR education.
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