SPAC AXIOS Sustainable Growth prices upsized $150 million IPO, targeting AgTech

By Renaissance capital,

AXIOS Sustainable Growth Acquisition, a blank check company targeting agriculture-related technology firms in Central and Eastern Europe, raised $150 million by offering 15 million units at $10. The company offered 2.5 million more units than anticipated. Each unit consists of one share of common stock, one right to receive one-tenth of a share upon the completion of an initial business combination, and one warrant, exercisable at $11.50.

The SPAC is led by CEO and Director Benedikt Förtig, who previously served as the COO of Elite Agro LLC Serbia, and Chairman Martin Richenhagen, the former CEO of AGCO, a global manufacturer and distributor of agricultural equipment. The company plans to target the AgTech sector, focusing on agribusiness, plant-based proteins, food processing, and the related technology industry in Central and Eastern Europe.

AXIOS Sustainable Growth Acquisition plans to list on the NYSE under the symbol AXACU. I-Bankers Securities acted as sole bookrunner on the deal.

 

Source : https://www.renaissancecapital.com/IPO-Center/News/90990/SPAC-AXIOS-Sustainable-Growth-prices-upsized-$150-million-IPO-targeting-AgT

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