American Resources Corporation Announces Partial Exercise of Over-Allotment Option in Connection With the Initial Public Offering of Company Sponsored SPAC - American Acquisition Opportunity Inc.

Rhea-AI Summary

American Resources Corporation (NASDAQ:AREC) announced the successful partial exercise of the underwriter's over-allotment option for their SPAC, American Acquisition Opportunity Inc., closing with an additional 506,002 units issued. The units consist of one share of Class A common stock and one-half of a redeemable warrant, with each warrant allowing the purchase of additional shares at $11.50. This offering highlights the SPAC's goal to merge with land and resource holding companies, supporting innovation in the new economy.

Positive

• Raised additional capital through the issuance of 506,002 units.
• Focus on mergers with land and resource holding companies potentially expanding market opportunities.
• Indicates strong investor interest in the SPAC's offerings.

Negative

• None.

Company's SPAC is targeting land and resource holding companies, with the potential to create, support, and/or innovate for the new economy.

FISHERS, IN / ACCESSWIRE / April 5, 2021 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of raw materials to the new infrastructure and electrification marketplace, today announced that American Acquisition Opportunity Inc., a blank check company (the "SPAC" or "AMAO"), in which the Company has an indirect investment, has closed the issuance of an additional 506,002 units pursuant to the partial exercise of the underwriter's over-allotment option in connection with the SPAC's initial public offering. 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.

American Acquisition Opportunity Inc. 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 SPAC 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 offering of American Acquisition Opportunity Inc. was 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.

Special Note Regarding 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.

PR Contact
Precision Public Relations
Matt Sheldon
917-280-7329
matt@precisionpr.co

Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
arec@jtcir.com

RedChip Companies Inc.
Todd McKnight
1-800-RED-CHIP (733-2447)
Info@redchip.com

Company Contact:
Mark LaVerghetta
Vice President of Corporate Finance and Communications
317-855-9926 ext. 0
investor@americanresourcescorp.com

SOURCE: American Resources Corporation

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https://www.accesswire.com/638797/American-Resources-Corporation-Announces-Partial-Exercise-of-Over-Allotment-Option-in-Connection-With-the-Initial-Public-Offering-of-Company-Sponsored-SPAC--American-Acquisition-Opportunity-Inc

FAQ

What is the purpose of American Acquisition Opportunity Inc.?

American Acquisition Opportunity Inc. aims to merge with land and resource holding companies to support innovation in the new economy.

What does the issuance of 506,002 units for AREC indicate?

The issuance reflects strong demand and investor confidence in the SPAC's future ventures.

What is the significance of the warrants issued by American Acquisition Opportunity Inc.?

Each warrant allows the holder to purchase one share of Class A common stock at $11.50, providing potential future value for investors.

When was the initial public offering for the SPAC completed?

The initial public offering for American Acquisition Opportunity Inc. was completed prior to April 5, 2021.