Arogo Capital Acquisition Corp (AOGO) Terminates EON Reality Deal
by Marlena Haddad on 2023-11-09 at 12:34pm

Arogo Capital Acquisition Corp. (NASDAQ:AOGO) announced this morning that it has terminated its business combination with metaverse training company EON Reality.

While the parties did not provide a reason for the termination, Arogo Capital did state that it intends to continue its search for an alternative target to combine with.

The SPAC raised a total of $105.1 million in total proceeds from its IPO in December 2021, but saw nearly 83% of its trust removed following redemptions from an extension vote in September, leaving it with approximately $19 million post-vote.

Although Arogo Capital has a current completion deadline of November 29, it can extend this timeline until December 2024 to find a target to combine with. The SPAC originally set out to focus its search for a target with operations in EVs, technology, smart mobility or sustainable transportation, and related business ecosystems in the Asia Pacific, primarily Southeast Asia.

It originally announced the $655 million deal with EON Reality in April 2022. The deal did not include a PIPE and the parties had previously agreed to waive a minimum cash closing condition. Irvine, California-based EON Reality provides augmented and virtual reality tools to academic institutions and corporations for training purposes.

Arogo Capital Acquisition Corp (AOGO) Terminates EON Reality Deal
Recent Posts
by Kristi Marvin on 2025-07-05 at 10:02am

Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...

by Nicholas Alan Clayton on 2025-07-03 at 12:54pm

Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...

by Nicholas Alan Clayton on 2025-07-03 at 8:27am

At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...

by Nicholas Alan Clayton on 2025-07-02 at 12:13pm

McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...

by Nicholas Alan Clayton on 2025-07-02 at 8:29am

At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved