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Miami, FL; Irvine, CA, Oct. 07, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — Arogo Capital Acquisition Corp. (NASDAQ: “AOGOU, AOGO, AOGOW”) (“Arogo”), a particular function acquisition company, right now introduced the submitting of a registration assertion and proxy assertion and prospectus on Form S-4 (the “Registration Statement”), with the U.S. Securities and Exchange Commission (“SEC”).
The Registration Statement comprises a preliminary proxy assertion and prospectus, in reference to Arogo’s beforehand introduced proposed business mixture with EON Reality, Inc., a number one firm in Augmented and Virtual Reality and Knowledge Metaverse business and training options (“EON Reality”). While the Registration Statement has not but grow to be efficient and the knowledge contained therein is topic to vary, it offers vital details about EON Reality and the proposed business mixture with Arogo.
On April 25, 2022, Arogo entered right into a merger settlement with EON Reality. The merger is predicted be accomplished within the first half of 2023, topic to approval by Arogo’s shareholders, the Registration Statement being declared efficient by the SEC, and different customary closing circumstances. Following the business mixture with EON Reality, Arogo is predicted to vary its title to EON Reality Holdings, Inc. and its frequent inventory and public warrants will commerce on Nasdaq underneath the symbols of “EOXR” and “EOXRW”, respectively. The transaction values EON Reality at a professional forma enterprise worth of $655 million.
Included within the Registration Statement are EON Reality’s monetary outcomes for the second quarter of 2022. EON Reality’s full monetary outcomes and associated disclosures could be discovered within the Registration Statement, which we encourage you to learn.
About EON Reality
EON Reality is a number one firm in Augmented and Virtual Reality-based expertise creation for training and business in addition to the reputed creators of the Knowledge Metaverse. EON Reality’s over 20 years of existence and success are tied to its perception that data is a human proper and ought to be obtainable, accessible, and inexpensive for each particular person on the planet. To carry this out, EON Reality developed and launched EON-XR, a SaaS-based platform devoted to the democratization of XR content material creation that brings code-free XR improvement and publishing to smartphones, tablets, laptops, and some other XR-focused gadgets. EON-XR can be utilized in gadgets of completely different sizes, in several shapes and at differing kinds of areas: from hand-held cellular gadgets, to head-mounted shows, to large-scale screens, and even at mega-size amenities. EON Reality’s world community now includes of greater than 1.8 million licenses who’re collectively constructing the Knowledge Metaverse in additional than 75 areas. EON Reality has additionally created the world’s main XR library for training and business with entry to at the very least 4.4 million property and counting. For additional info, go to www.eonreality.com.
About Arogo Capital Acquisition Corp.
Arogo Capital Acquisition Corp. is a clean examine firm. The Company goals to accumulate one and extra companies and property, by way of a merger, capital inventory alternate, asset acquisition, inventory buy, and reorganization. For extra info, go to www.arogocapital.com
Advisors
ARC Group Ltd. is serving as sole monetary advisor to Arogo. EF Hutton, division of Benchmark Investments, LLC, is serving as capital markets advisor. Nelson Mullins Riley & Scarborough LLP is serving as authorized advisor to Arogo. Seyfarth Shaw LLP is serving as authorized advisor to EON Reality.
Additional Information and Where to Find It
This press launch pertains to a proposed transaction between Arogo and EON Reality. In reference to the proposed transaction, Arogo filed a Registration Statement on Form S-4 with the SEC, which is topic to vary, and which features a proxy assertion of Arogo in reference to Arogo’s solicitation of proxies for vote by Arogo’s shareholders with respect to the proposed transaction and a prospectus of Arogo regarding the issuance of Arogo’s securities to the stockholders of EON Reality. Arogo may file different paperwork relating to the proposed transaction with the SEC. This communication doesn’t comprise all the knowledge that ought to be thought of in regards to the proposed transaction and isn’t supposed to type the premise of any funding determination or some other determination in respect of the proposed transaction. Before making any voting or funding determination, buyers and safety holders are urged to learn the Registration Statement and the proxy assertion/prospectus, every which haven’t but grow to be efficient and the knowledge contained therein is topic to vary, along with all different related paperwork filed or that might be filed with the SEC in reference to the proposed transaction as they grow to be obtainable as a result of they’ll comprise vital details about the proposed transaction. The paperwork filed by Arogo with the SEC could also be obtained free of cost on the SEC’s web site at www.sec.gov, (Registration No. 333-259338), or by directing a request to Arogo Capital Acquisition Corp., 848 Brickell Avenue, Penthouse 5, Miami, FL 33131.
NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE TRANSACTIONS DESCRIBED IN THIS PRESS RELEASE, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS PRESS RELEASE. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.
Participants within the Solicitation
Arogo and its administrators and government officers could also be deemed members within the solicitation of proxies from its stockholders with respect to the business mixture. A listing of the names of these administrators and government officers and an outline of their pursuits in Arogo might be included within the Registration Statement obtainable at www.sec.gov. Information about Arogo’s administrators and government officers and their possession of Arogo frequent inventory is about forth in Arogo’s prospectus, dated December 23, 2021, as modified or supplemented by any Form 3 or Form 4 filed with the SEC because the date of such submitting. Other info relating to the pursuits of the members within the proxy solicitation are included within the Registration Statement. These paperwork could be obtained free of cost from the supply indicated above.
EON Reality and its administrators and government officers may be deemed to be members within the solicitation of proxies from the stockholders of Arogo in reference to the proposed business mixture. A listing of the names of such administrators and government officers and knowledge relating to their pursuits within the proposed business mixture is included within the Registration Statement.
Forward Looking Statements
This communication comprises sure statements which can be deemed as “forward-looking statements” throughout the that means of the Private Securities Litigation Reform Act of 1995 and different securities legal guidelines. Such statements embrace, however should not restricted to, statements about future monetary and working outcomes, our plans, aims, expectations and intentions with respect to future operations, services and products; and different statements recognized by phrases comparable to “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or phrases of related that means. These forward-looking statements embrace, however should not restricted to, statements relating to EON Reality’s business and market sizes, future alternatives for EON Reality and Arogo, EON Reality’s estimated future outcomes and the proposed business mixture between Arogo and EON Reality, together with the implied enterprise worth, the anticipated transaction and possession construction and the probability, timing and talent of the events to efficiently consummate the proposed transaction. Such forward-looking statements are based mostly upon the present beliefs and expectations of the administration and are inherently topic to important business, financial and aggressive uncertainties and contingencies, many of that are tough to foretell and usually past the administration’s management. Actual outcomes and the timing of occasions could differ materially from the outcomes anticipated in these forward-looking statements.
In addition to components beforehand disclosed in Arogo’s reviews filed with the SEC and people recognized elsewhere on this communication, the next components, amongst others, may trigger precise outcomes and the timing of occasions to vary materially from the anticipated outcomes or different expectations expressed within the forward-looking statements: incapability to satisfy the closing circumstances to the business mixture, together with the prevalence of any occasion, change, authorized proceedings instituted in opposition to EON Reality or in opposition to Arogo associated to the business mixture settlement or the administration group, or different circumstances that would give rise to the termination of the business mixture settlement; the lack to finish the transactions contemplated by the business mixture settlement as a result of failure to acquire approval of Arogo’s stockholders; redemptions exceeding a most threshold or the failure to satisfy The Nasdaq Stock Market’s preliminary itemizing requirements in reference to the consummation of the contemplated transactions; prices associated to the transactions contemplated by the business mixture settlement; a delay or failure to appreciate the anticipated advantages from the proposed business mixture settlement transaction together with EON Reality’s potential to successfully develop and efficiently market new merchandise, options and companies, and to successfully tackle price reductions and different modifications in its business; dangers associated to disruption of administration’s time from ongoing business operations as a result of proposed business mixture transaction; modifications within the digital actuality markets by which EON Reality competes, together with with respect to its aggressive panorama, know-how evolution or regulatory modifications on options, companies, labor issues, worldwide financial, political, authorized, compliance and business components; developments and uncertainties in home and international commerce insurance policies and rules, and different rules which can trigger contractions or have an effect on development charges and cyclicality of markets EON Reality serve; disruptions regarding conflict, terrorism, widespread protests and civil unrest, man-made and pure disasters, public well being points and different occasions; modifications in home and world normal financial circumstances; threat that EON Reality could not be capable to execute its development methods; safety breaches or different disruptions of EON Reality info know-how programs or violations of knowledge privateness legal guidelines; EON Reality’s incapability to adequately shield its mental property; dangers associated to the continued COVID-19 pandemic and response, together with new variants of the virus; the tempo of restoration within the markets by which EON Reality operates; world provide chain disruptions and potential staffing shortages at potential clients which can have a trickle-down impact on EON Reality; threat that EON Reality could not be capable to develop and preserve efficient inside controls; and different dangers and uncertainties indicated in Arogo’s ultimate prospectus, dated December 23, 2021, for its preliminary public providing, and people which are contained within the Registration Statement, together with these underneath “Risk Factors” therein, and in Arogo’s different filings with the SEC. EON Reality and Arogo warning that the foregoing checklist of components shouldn’t be unique. These forward-looking statements are offered for illustrative functions solely and should not supposed to function, and should not be relied on by any investor as, a assure, an assurance, a prediction or a definitive assertion of reality or likelihood.
Actual outcomes, efficiency or achievements could differ materially, and doubtlessly adversely, from any projections and forward-looking statements and the assumptions on which these forward-looking statements are based mostly. There could be no assurance that the info contained herein is reflective of future efficiency to any diploma. You are cautioned to not place undue reliance on forward-looking statements as a predictor of future efficiency as projected monetary info and different info are based mostly on estimates and assumptions which are inherently topic to numerous important dangers, uncertainties and different components, many of that are past the administration’s management. All info set forth herein speaks solely as of the date hereof within the case of details about Arogo and EON Reality or the date of such info within the case of info from individuals apart from Arogo or EON Reality, and besides to the extent required by relevant regulation, we disclaim any intention or obligation to replace or revise any forward-looking statements because of this of new info, future occasions and developments or in any other case occurring after the date of this communication. Forecasts and estimates relating to EON Reality’s business and markets are based mostly on sources we consider to be dependable, nonetheless there could be no assurance these forecasts and estimates will show correct in complete or partially. Projected and estimated numbers are used for illustrative function solely, should not forecasts and will not mirror precise outcomes. Neither Arogo nor EON Reality provides any assurance that both Arogo or EON Reality, respectively, will obtain its expectations.
No Offer or Solicitation
This press launch shall not represent a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business mixture. This press launch shall additionally not represent a proposal to promote or the solicitation of a proposal to purchase any securities, nor shall there be any sale of securities in any states or jurisdictions by which such supply, solicitation, or sale can be illegal previous to registration or qualification underneath the securities legal guidelines of any such jurisdiction. No providing of securities shall be made besides by means of a prospectus assembly the necessities of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Contact Information
For EON Reality:
For Arogo:
