Fishers-based American Acquisition Opportunity Inc. (Nasdaq: AMAOU) has launched an IPO, offering 10 million units as part of its growth plan. The new public company was launched by the same founder group as Land Betterment Corp., which is redeveloping the former Landree Mine in Greene County into a “farm-to-bottle” craft distillery.
AAO has an independent board from LBX. The public company is a special purpose acquisitions company (SPAC) with the goal of raising money through an IPO to eventually acquire another company.
While many SPACS are usually geared toward acquiring new technology companies, AAO says it is focused on acquiring land and resource holding companies.
When SPAC’s raise money, the investors buying into the company may not even know what the acquisition target company will be. The investment is usually made on the track record and reputation of the group launching the SPAC.
The company says it sees the potential to “create, support, and/or innovate for the new economy.”