African Gold Acquisition Corporation (AGAC.U) Prices Upsized $360M IPO

African Gold Acquisition Corporation announced the pricing of its upsized $360 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “AGAC.U,” Friday, February 26.

The new company aims to combine with a gold mining target that presents future consolidation opportunities. African Gold is led by Chairman Robert Hersov, Vice Chairman Brian Hinchcliffe, CEO Christopher Chadwick, CFO Cooper Morgenthau, and COO Izak Marais.

Total SPAC deal count for 2021 year-to-date is now 184. This offering is expected to close on Tuesday, March 2.

B. Riley Securities, Inc. is acting as the sole book running manager of the offering.  Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Reed Smith LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.