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Agriculture & Natural Solutions Acquisition Corporation (ANSC0.00%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's operations as a blank check company, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
On November 13, 2023, the company completed its initial public offering, raising $345 million through the sale of 34,500,000 units at $10 per unit. Each unit consists of one Class A ordinary share and one-half of one warrant.
Simultaneously, the company completed a private placement of 9,400,000 warrants to its sponsor and independent directors, generating an additional $9.4 million.
The proceeds from the public offering and private placement were placed in a trust account, to be used for the company's initial business combination.
The company has until November 13, 2025, to complete a business combination or it will cease operations and redeem the public shares.
For the year ended December 31, 2024, the company reported net income of $8,363,892, primarily from interest income on the trust account.
The company incurred general and administrative expenses of $10,241,431 during the same period.
The company is currently in discussions regarding a potential business combination with Agriculture & Natural Solutions Company Limited and other parties.
The filing also outlines various risks and uncertainties, including geopolitical tensions and market volatility, which could impact the company's ability to complete a business combination.
The company acknowledges substantial doubt about its ability to continue as a going concern if a business combination is not consummated by the deadline.
The filing includes information on the company's management, directors, and governance structure, as well as details on related party transactions and financial statements.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Agriculture & Natural Solutions Acquisition Corporation annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.