Agrico Acquisition Prices $125M IPO

Agrico Acquisition priced its IPO of 12.5 million units at $10each, with each unit consisting of one Class A ordinary share and one-half of a warrant, with whole warrants exercisable at $11.50.

Units begin trading today on the Nasdaq under RICOU. Once the securities comprising the units begin separate trading, shares and the warrants are expected to list under RICO and RICOW, respectively.

Agrico will concentrate on AgTech target businesses in the Americas. 

The SPAC is led by CEO and Chairman Brent de Jong, the managing partner of De Jong Capital, a family investment company and has served since November 2019 as chairman of Emergent Technology and its predecessors.

Maxim is sole book-running manager for the offering. The underwriters have a 45-day option to purchase up to 1.875 million additional units to cover over-allotments, if any.

The offering is expected to close July 12. Read more.

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