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Oxus Acquisition Corp. Files Registration Statement on Form S-4, Marking Major Step in its Proposed Business Combination with Borealis Foods Inc.
NEW YORK, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Oxus Acquisition Corp. (“Oxus”) (NASDAQ:OXUS), a Special Purpose Acquisition Company (SPAC), and Borealis Foods
About this update from Borealis Foods Inc.
[{"type":"text","content":"NEW YORK, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Oxus Acquisition Corp. (“Oxus”) (NASDAQ:OXUS), a Special Purpose Acquisition Company (SPAC), and Borealis Foods Inc. (“Borealis”) announced today the filing of the registration statement on Form S-4 (the “Registration Statement”) with the U.S. Securities and Exchange Commission (the “SEC”), marking a significant advance in Oxus’s proposed business combination with Borealis (the “Proposed Transaction”).This filing brings Oxus closer to realizing its goal of helping to address global food and nutritional challenges, in partnership with an innovative food technology company Borealis. The Oxus team has been led by CEO Kanat Mynzhanov and Non-Executive Chairman Kenges Rakishev.Borealis, under the leadership of its co-founder and CEO Reza Soltanzadeh, is a notable entity in the food technology industry. The company has developed a range of plant-based meals, including the world's first plant-based high-protein ramen, complete with 20-grams of protein. Borealis has increased its gross revenues from $14.3 million in 2021 to $27.5 million in 2022 representing a 92.7% year-over-year growth. In the three months ended March 31, 2023 its gross revenues were $8.7 million. Borealis’s financial results for the year ended December 31, 2022 and the three months ended March 31, 2023 and related disclosures can be found in the Registration Statement, which Oxus encourages all interested parties to read.Kanat Mynzhanov, CEO of Oxus, praised the partnership, stating, “Borealis is uniquely positioned to revolutionize the global food industry. We believe Borealis offers a potential pathway to a more sustainable future and is positioned to play an important role in the fight against world hunger.” The filing of the Registration Statement is a result of the collective efforts of Oxus and Borealis and illustrates the companies’ alignment in their mission to bring affordable, sustainable food solutions to a broader market.The Proposed Transaction is currently expected to be completed late in the fourth quarter of 2023.The Registration Statement contains a preliminary proxy statement and prospectus in connection with the Proposed Transaction. While the Registration Statement has not yet become effective and the information contained therein is subject to change, it provides important information about Oxus, Boreal...