Agrico Acquisition Corp., a newly organized blank check company incorporated as a Cayman Islands exempted company and led by chairman and CEO Brent de Jong, has closed its initial public offering of 14,375,000 units, including 1,875,000 units sold pursuant to the full exercise of the underwriters’ over-allotment option, at an offering price of $10.00 per unit. Each unit consists of one Class A ordinary share of the company and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at $11.50 per share. The units began trading on the Nasdaq Capital Market under the ticker symbol “RICOU” on July 8, 2021. Once the securities comprising the units begin separate trading, the Class A ordinary shares and the warrants are expected to be traded on the Nasdaq under the symbols “RICO” and “RICOW,” respectively.
While Agrico Acquisition Corp. will not limit its search for a target company to any particular business segment, it will concentrate its focus on targets in agriculture, horticulture, and aquaculture that aim to improve yield, efficiency or profitability in the production, processing, distribution, provision of capital, or consumption of outputs, inputs, data, technology or other services located in the Americas.
Maxim Group LLC acted as sole book-running manager for the offering.