Arogo Capital Acquisition Corp is a special purpose acquisition company (SPAC) — a shell company with no operations, revenues, or products. Arogo's sole purpose is to identify and merge with a private business, taking it public in the process. Arogo raised ~$103.5M in its December 2021 IPO at $10.00 per unit, placing proceeds in a trust account while searching for a merger target. Two prior deals fell apart — a 2022 merger agreement with augmented/virtual reality company Eon Reality, terminated in 2023 for breach of covenants, and a 2024 deal with Canadian cannabis company Ayurcann, terminated after Ayurcann failed to deliver audited financials. Repeated shareholder redemptions at extension votes have shrunk the trust to ~$1M, meaning Arogo functions primarily as a Nasdaq listing vehicle rather than a source of capital for any merger target. Arogo's current proposed deal, signed February 2025, is a merger with Bangkok Tellink, a Thailand-based telecom and IoT solutions provider. The transaction would create a new Nasdaq-listed holding company, with Arogo becoming a wholly-owned subsidiary. The deal must close by December 31, 2025. If Arogo fails to complete any business combination by June 29, 2026, it must liquidate. Arogo's sponsor, Singto LLC, purchased founder shares for ~$25,000; if a deal closes, those shares convert into regular shares, generating a substantial profit for the sponsor at minimal cost — the standard SPAC "promote" structure.