American Resources Corporation Announces Pricing of $100,000,000 Company Sponsored SPAC - American Acquisition Opportunity Inc.

Rhea-AI Summary

American Resources Corporation (NASDAQ:AREC) announced the pricing of its SPAC, American Acquisition Opportunity Inc., with an IPO of 10 million units at $10.00 each. This SPAC aims to merge with companies in the land holding and resource industry, focusing on clean energy, recycling, and redevelopment. The units will trade on Nasdaq under the symbol AMAOU, and consist of one share of Class A stock and a half warrant. There is an option for underwriters to purchase an additional 1.5 million units.

Positive

• SPAC allows entry into the clean energy and resource market.
• Potential for innovation in the new economy.
• Underwriters have a 45-day option to buy additional units, indicating confidence in the offering.

Negative

• The success of the SPAC is uncertain, given market volatility.
• Investors face risks typically associated with SPAC acquisitions, including potential dilution.

Company's SPAC is targeting acquisitions in the land holding and resource industry, and will focus on advancing land and resource assets towards a modern-day business model of clean energy, recycling and redevelopment, and social impact

FISHERS, IN / ACCESSWIRE / March 18, 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, priced its initial public offering of 10,000,000 units at $10.00 per unit. The units will be listed on the Nasdaq Capital Market ("Nasdaq") and will begin trading today, Thursday, March 18, 2021, 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 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. is acting 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 the SPAC 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 "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.

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/636185/American-Resources-Corporation-Announces-Pricing-of-100000000-Company-Sponsored-SPAC--American-Acquisition-Opportunity-Inc

FAQ

What is the purpose of American Acquisition Opportunity Inc. (SPAC) under AREC?

The SPAC aims to merge with land holding and resource companies, focusing on clean energy and recycling.

When will the SPAC units start trading, and under what symbol?

The units began trading on March 18, 2021, under the symbol AMAOU.

What does each SPAC unit consist of?

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

What is the initial offering price for the SPAC?

The initial offering price for the SPAC is $10.00 per unit.

What are the risks involved with investing in this SPAC?

Investors face risks typical of SPACs, including market volatility and potential dilution.