Company Overview Summary

Name and Incorporation

• Name: Arogo Capital Acquisition Corp.
• Incorporation: June 9, 2021, as a Delaware corporation.

Business Purpose

• A blank check company (special purpose acquisition company - SPAC) aiming to acquire, merge, or reorganize with one or more businesses.
• Focused on identifying targets in industries that benefit from access to the public markets, especially in Asia Pacific, primarily Southeast Asia.
• Target industries include electric vehicles (EV) technology, smart mobility, sustainable transportation, and related sectors.

Management and Board

• Experienced management team with backgrounds in logistics, transportation, enterprise cloud computing, finance, and sustainable development.
• Board members include individuals with extensive experience in logistics, smart city initiatives, energy storage solutions, transportation infrastructure, and investment management.

Business Strategy and Target Criteria

• Focus on companies with enterprise values between $200 million and $2 billion.
• Seek companies with high revenue and earnings growth potential, strong management teams, predictable revenue streams, and potential for strong free cash flow.
• Emphasize industries with macroeconomic opportunities in electrification, EV manufacturing, battery production, and sustainable mobility.
• Will prioritize targets with benefits from being publicly traded, such as access to capital and increased profile.

Current Operations & Activities

• No operations or revenues as of December 31, 2024.
• Most activity has been related to formation, initial public offering (IPO), fund raising, and evaluating acquisition targets.
• Financials:
  • Net loss in 2024: $1,241,721 (due to formation, operating costs, franchise taxes, and income taxes paid).
  • Net income in 2023: $1,461,815 (mainly from marketable securities and interest income).
  • As of December 31, 2024:
    • About $1,005,054 in trust account; after redemptions, around $261,326 remains in trust as of June 30, 2025.
    • Cash outside trust: approximately $122,013.
    • No operating revenues; income mainly from interest income and investment gains.

Financial Position

• Raised approximately $105.05 million from IPO (including over-allotment units) and private placement.
• The proceeds are held in a trust account and are intended for use in initial business combination; funds outside trust are used for operational expenses and fees.
• Expenses: Formation, operating costs, and franchise taxes account for ongoing expenses.
• The company has no long-term debt; payments are limited to monthly office support fees and deferred underwriters’ commissions if applicable.

Business Milestones & Recent Developments

• Completed IPO of 10,350,000 units at $10.00 each in December 2021.
• Raised additional $4.66 million via private placement to sponsor.
• Filed multiple amendments to extend the business combination deadline from March 2023 to June 2026.
• Redeemed significant portions of shares during extensions (e.g., over $54 million on December 2024 redemptions and over $35 million on September 2024 redemptions).
• Initiated merger discussions with Tellink (specializing in telecom and IoT solutions in Thailand), currently in the process of forming a new public company (“Pubco”).
• Terminated merger agreements with Eon Reality and Ayurcann.
• Filed amendments to allow for the optional conversion of Class B stock to Class A and extend the initial business window.

Employees

• Currently employs 3 officers.
• No full-time employees before business combination; management intends to devote necessary time based on target activity.

Revenue & Income

• 2024: No operational revenue, net loss of $1,241,721.
• 2023: No operational revenue, net income of $1,461,815 mainly from investment holdings.
• Revenue is from interest income on marketable securities and cash equivalents in trust.

Key Focus

• Identify and acquire high-quality companies in EV, smart mobility, and sustainable transport sectors.
• Utilize management’s extensive network and experience in tech, transportation, manufacturing, and sustainable development.
• Aim to provide a viable alternative to an IPO for target companies by offering a quicker path to being publicly traded.