Welcome to our dedicated page for Oxus Acquisition news (Ticker: OXUS), a resource for investors and traders seeking the latest updates and insights on Oxus Acquisition stock.
Oxus Acquisition Corp. (NASDAQ: OXUS) is a Special Purpose Acquisition Company (SPAC) formed with the intent of engaging in mergers, share exchanges, asset acquisitions, share purchases, recapitalizations, reorganization, or similar business combinations with one or more entities. While Oxus aims to focus on energy transition technologies within emerging and frontier countries, it remains open to opportunities in any sector or geographical location. The company successfully raised $172,000,000 in its initial public offering in September 2021 and is listed on the Nasdaq under the symbol 'OXUS'.
On August 16, 2023, Oxus and Borealis Foods Inc. announced the filing of a registration statement on Form S-4 with the U.S. Securities and Exchange Commission (SEC). This significant step brings Oxus closer to completing its proposed business combination with Borealis Foods, an innovative food technology company led by CEO Reza Soltanzadeh. Borealis Foods has developed a range of plant-based meals, including the world's first high-protein plant-based ramen, which boasts 20 grams of protein. The company's revenue grew from $14.3 million in 2021 to $27.5 million in 2022, marking an impressive 92.7% year-over-year growth. For the first quarter ending March 31, 2023, Borealis reported $8.7 million in gross revenues.
Oxus's leadership, under CEO Kanat Mynzhanov and Non-Executive Chairman Kenges Rakishev, sees great potential in Borealis Foods' mission to address global food and nutritional challenges. Mynzhanov has expressed confidence in Borealis's ability to revolutionize the global food industry, contributing to a more sustainable future and combating world hunger. The partnership between Oxus and Borealis illustrates a shared commitment to delivering affordable and sustainable food solutions to a broader market.
The proposed transaction is expected to be finalized in the fourth quarter of 2023. The registration statement includes a preliminary proxy statement and prospectus, offering detailed information about Oxus, Borealis, and the proposed business combination. Interested parties are encouraged to review the registration statement for further insights.
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