African Agriculture Files for IPO with US SEC
African Agriculture Inc. (AAGR), a New York-based Africa-focused company, has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission.
The principal purposes of the initial public offering, according to the management of African Agriculture, are to fund their program of incremental planting expansion of 10,000 hectares at the LFT Farm, which they expect to occur in 2022 with approximately 50 hectares seeded on a daily basis.
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The company said Spartan Capital Securities is the sole underwriter for the IPO, but did not, however, disclose the amount it expects to raise nor an expected price range for its IPO.
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African Agriculture says it is on a mission to deliver protein to the world through the enhancement of cattle feed via high nutrition content and fiber alfalfa production, the responsible environmental and employment management of Africa’s abundant coastline, and the deployment of cash flow ultimately into a global program of carbon offsets.