Agriculture & Natural Solutions Acquisition (ANSC) is a SPAC — a blank check company with no operations — that raised $345M in its November 2023 IPO to find and acquire a private company in the agriculture sector. ANSC focuses specifically on businesses tied to decarbonizing agriculture or developing "natural capital," such as carbon sequestration, ecosystem monitoring, and regenerative farming. The sponsors behind ANSC are Riverstone, an energy and renewables-focused private equity firm, and Impact Ag, an Australian agricultural asset manager. ANSC's economics follow the standard SPAC structure: sponsors acquired ~8.6M Founder Shares for $25,000, representing ~20% of the post-IPO share count, which converts to Class A shares upon deal close. Public shareholders put in $10/share, held in a Trust Account earning interest, and can redeem at trust value or stay in the combined company post-merger. ANSC had one deal under contract — a Business Combination Agreement to acquire Australian Food & Agriculture Company, a large Australian agricultural business — but terminated that deal in April 2025 due to volatile equity market conditions, paying ~$3.5M in termination fees. ANSC is now searching for a new target and has until November 13, 2026 to close a deal after receiving a one-year extension from shareholders. The sponsor is depositing ~$658K/month into the Trust Account to keep the clock running while ANSC searches for a new acquisition target.