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American Resources Corporation Announces Partial Exercise of Over-Allotment Option in Connection With the Initial Public Offering of Company Sponsored SPAC - American Acquisition Opportunity Inc.
Company's SPAC is targeting land and resource holding companies, with the potential to create, support, and/or innovate for the new economy.FISHERS, IN /
About this update from American Resources Corporation
[{"type":"text","content":"Company's SPAC is targeting land and resource holding companies, with the potential to create, support, and/or innovate for the new economy.FISHERS, IN / ACCESSWIRE / April 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 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, has closed the issuance of an additional 506,002 units pursuant to the partial exercise of the underwriter's over-allotment option in connection with the SPAC's initial public offering. The units are listed on the Nasdaq Capital Market (\"Nasdaq\") 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 SPAC 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. acted as the sole book running manager for the offering.The offering of American Acquisition Opportunity Inc. was 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 [email protected] registration statem...