Business
American Resources Corporation Announces Filing of SPAC Registration Statement
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
About this update from American Resources Corporation
[{"type":"text","content":"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 / February 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 marketplace, today announced that American Acquisition Opportunity Inc., a special purpose acquisition company (the \"SPAC\" or \"AAOI\"), in which the Company has an indirect investment, filed a Registration Statement on Form S-1 (the \"Registration Statement\") with the Securities and Exchange Commission (\"SEC\") on February 4, 2021 in connection with a proposed initial public offering of its units. AAOI intends to search for a target in the land holdings and resources industry.AAOI will look to target a platform-building acquisition in the land holdings and resources industry that generates current revenues from its legacy industries, predominately focused on natural resources. The goal of AAOI is to look beyond the targets current business model and pursue a growth industry of clean energies, social impact and new industries such as recycling and redevelopment.The proposed public offering is expected to have a base offering size of $100 million, or up to $115 million if the underwriters' over-allotment option is exercised in full. AAOI will be managed by the Company's management team.Kingswood Capital Markets, division of Benchmark Investments, Inc is acting as sole book-running manager for the offering.The offering is being made only by means of a prospectus. When available, copies of the prospectus related to the proposed initial offering by American Acquisition Opportunity Inc. may be obtained for free by visiting Edgar or the SEC's website at www.sec.gov or 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 [email protected] registration statement relating to the securities of AAOI has been filed with the SEC but has not yet become effective. These securities may not be sold n...