Oxus Acquisition Corp. closes $150M IPO and $8.4M PIPE; trust funded with $153M; over-allotment fully exercised

Borealis Foods Inc.

IPO of 15M units at $10.00 each raised $150M; private placement of 8.4M warrants at $1.00 raised $8.4M.
Net proceeds of $153M deposited in trust account ($10.20 per unit) for future business combination.
Underwriters fully exercised over-allotment on Sep 13, 2021: additional 2.25M units ($22.5M) and 900K private warrants ($0.9M).
Total trust account increased to $175.95M after over-allotment closing.
SPAC targets energy transition technologies (battery materials, EV infrastructure, recycling) in emerging markets.

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