First Capital, Inc. Announces Definitive Business Combination Agreement between Arogo Capital Acquisition Corp. and Bangkok Tellink Co., Ltd.

First Capital, Inc. (FCAP: NASDAQ) has reported a significant event in an 8-K filing with the U.S. Securities and Exchange Commission (SEC). According to the filing, the company has entered into a definitive business combination agreement that involves Arogo Capital Acquisition Corp. and Bangkok Tellink Co., Ltd.

Arogo Capital Acquisition Corp. (OTC: AOGO), a Delaware special purpose acquisition company (SPAC), and Bangkok Tellink Company Limited, a Thai registered telecommunications company, have agreed upon the business combination agreement. The transaction, dated February 14, 2025, is valued at $350 million and expected to lead to the listing of the newly combined company on The Nasdaq Global Market. Bangkok Tellink will continue to operate under the leadership of its CEO, Mr. Nusttanakit Sasianon, once the transaction is completed.

Bangkok Tellink is a licensed Mobile Virtual Network Service Operator (MVNO) and aggregator (MVNA). The company offers mobile phone packages across multiple frequencies. Operating under the “INFINITE” brand, it provides a range of services such as Smart Solutions, IoT Sim Cards, eSIMs, virtual SMS, voice virtual numbers, and software development.

The growth of Thailand’s digital economy is being facilitated by Bangkok Tellink’s efforts, in a transformation driven by the need for enhanced competitiveness, improved public services, and sustainable growth. The eSIM market in the country is expanding as it offers convenience for consumers and flexibility for businesses, supporting this transformation towards a more sophiticated digital economy.

“This is an exciting moment for Bangkok Tellink to expand our business, enhance our product and service offerings, and accelerate our growth. We are excited to continue to foster this business combination with the Arogo team to generate attractive value for our shareholders,” said Nusttanakit Sasianon, CEO of Bangkok Tellink.

Suradech Taweesaengsakulthai, CEO of Arogo, added that they are thrilled to partner with Bangkok Tellink to capitalize on their success and help expand their operations to meet the demand for their services.

The completion of the business combination is subject to the approval of Arogo and Bangkok Tellink’s shareholders, fulfillment of customary closing conditions and obtaining regulatory approvals. Further details about the proposed business combination will be available in a Current Report on Form 8-K and a Registration Statement on Form F-4 to be filed by Pubco with the SEC.

Started in 2019, Bangkok Tellink Co., Ltd is situated at the forefront of Thailand’s telecommunications industry. On the other hand, Arogo Capital Acquisition Corp. is a blank check company set up in 2021 to effect a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or a similar business combination with one or more entities.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read First Capital’s 8K filing here.

About First Capital

First Capital, Inc operates as the bank holding company for First Harrison Bank that provides various banking services to individuals and business customers. The company offers various deposit instruments, including non-interest-bearing checking accounts, negotiable order of withdrawal accounts, money market accounts, regular savings accounts, certificates of deposit, and retirement savings plans.