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Special counsel moves to abandon election interference and classified documents cases against TrumpMIAMI, Fla. and BANGKOK, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Arogo Capital Acquisition Corp. ("Arogo Capital”) (OTC: AOGO) today announced that it has signed a binding letter of intent ("LOI”) with Bangkok Tellink Co., Ltd ("Bangkok Tellink”), an emerging leader in advanced telecommunications, mobile network technology, and Internet of Things (IoT) solutions. The LOI sets forth the preliminary terms and conditions for a potential business combination that would be expected to result in Bangkok Tellink becoming a publicly traded company in the United States. Bangkok Tellink at a Glance Established on January 24, 2019, Bangkok Tellink specializes in comprehensive mobile phone signal systems across multiple frequencies (700MHz, 850MHz, 2100MHz, 2300MHz, and 26GHz). Operating under its 'INFINITE' brand, the company provides a range of services including Smart Solutions, IoT Sim Cards, E-sim, SMPP (virtual SMS), SIP trunk (voice virtual number), and software development. Through its offerings, Bangkok Tellink seeks to deliver integrated telecommunications solutions with a goal of enhancing both professional and personal lives of its customers. Bangkok Tellink's commitment to innovation, efficient operations, and strategic growth positions it as a versatile technology provider, poised to meet evolving connectivity demands and contribute to sustainable development. Strategic Rationale The material terms of a definitive business combination agreement are subject to ongoing negotiations, but if agreement is reached and the proposed business combination is completed, it is anticipated to grant Bangkok Tellink enhanced access to U.S. capital markets. Bangkok Tellink believes that this proposed business combination could accelerate the rollout of its next-generation telecommunication technologies, foster broader geographic expansion, and provide increased financial flexibility to advance research and development efforts. Management Commentary "We believe that Bangkok Tellink has demonstrated an impressive ability to innovate and deliver exceptional telecommunications and IoT solutions,” said Suradech Taweesaengsakulthai, Chief Executive Officer of Arogo Capital. "The signing of this binding LOI marks an important first step in exploring a potential business combination, and we look forward to conducting further due diligence and negotiating definitive terms. We believe that Bangkok Tellink's vision, coupled with Arogo's strategic support, could create substantial long-term value for the proposed combined company's shareholders and customers worldwide.” "We are excited to work with Arogo Capital and move forward with negotiation of a potential business combination,” said Nusttanakit Sasianon, Founder and Chief Executive Officer of Bangkok Tellink. "Our mission is to uplift lives through cutting-edge connectivity and innovative solutions. We believe that partnering with Arogo could provide us with an opportunity to broaden our horizons, enhance our product and service offerings, and accelerate growth. We are committed to making this potential milestone a reality and continuing to build on our progress.” Next Steps There is no assurance that the parties will enter into a definitive agreement or ultimately consummate the proposed transaction. If and when a definitive business combination agreement is executed, further details will be provided. About Arogo Capital Acquisition Corp. Arogo Capital Acquisition Corp. is a blank check company. Arogo aims to acquire one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization. For more information, visit www.arogocapital.com . About Bangkok Tellink Co., Ltd Bangkok Tellink Co., Ltd, established in 2019, is at the forefront of Thailand's telecommunications industry. By offering mobile network infrastructure, IoT devices, E-sim services, and software development, Bangkok Tellink provides integrated solutions that foster connectivity and productivity. Bangkok Tellink invests in innovation, operational efficiency, and sustainability to position itself as a prominent telecommunications and technology leader. Additional Information and Where to Find It For additional information regarding the LOI and the proposed business combination, see Arogo Capital's Current Report on Form 8-K, which was filed with the U.S. Securities and Exchange Commission ("SEC”) concurrently with the issuance of this press release. In connection with the proposed business combination, Arogo Capital intends to file with the SEC a Current Report on Form 8-K if and when the business combination agreement is executed, and subsequently to prepare and file a registration statement on Form S-4 (or Form F-4, as applicable, the "Registration Statement”), and after the Registration Statement is declared effective by the SEC, Arogo Capital intends to mail a definitive proxy statement/prospectus relating to the proposed transaction to its stockholders. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the proposed business combination. Arogo Capital's stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus and other documents filed in connection with the proposed business combination with the SEC by Arogo Capital, as these materials will contain important information about Arogo Capital and Bangkok Tellink, and the proposed business combination. When available, the definitive proxy statement/prospectus and other relevant materials for the proposed business combination will be mailed to stockholders of Arogo Capital as of a record date to be established for voting on the proposed business combination. Such stockholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed with the SEC, without charge, once available, at the SEC's website at www.sec.gov, or by directing a request to Arogo Capital Acquisition Corporation, 848 Brickell Ave, Penthouse 5, Miami, FL 33131. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the "Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the "Exchange Act”), that are based on beliefs and assumptions and on information currently available to Arogo Capital and Bangkok Tellink. In some cases, you can identify forward-looking statements by the following words: "may,” "will,” "could,” "would,” "should,” "expect,” "intend,” "plan,” "anticipate,” "believe,” "estimate,” "predict,” "project,” "potential,” "continue,” "ongoing,” "target,” "seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including that the parties will enter into a definitive business combination agreement or will subsequently consummate the proposed business combination, projections of market opportunity and market share, the capability of Bangkok Tellink's business plans including its plans to expand, the sources and uses of cash from the proposed business combination, the anticipated enterprise value of the combined company following the consummation of the business combination, any perceived benefits of Bangkok Tellink's partnerships, strategies or plans as they relate to the proposed business combination, anticipated benefits of the business combination, and expectations related to the terms and timing of the business combination are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Although the management team of each of Arogo Capital and Bangkok Tellink believes that it has a reasonable basis for each forward-looking statement contained in this press release, each of Arogo Capital and Bangkok Tellink cautions you that these statements are based on assumptions made as of the date hereof and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the ability to complete the proposed business combination due to the failure to obtain approval from Arogo Capital's stockholders or satisfy other closing conditions in any future business combination agreement, the receipt of regulatory approvals, the occurrence of any event that could give rise to the termination of a future business combination agreement, the ability to recognize the anticipated benefits of the business combination, the amount of redemption requests made by Arogo Capital's public stockholders, costs related to the proposed business combination, the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the proposed business combination, the outcome of any potential litigation, government or regulatory proceedings and other risks and uncertainties, including those included under the heading "Risk Factors” and "Cautionary Note Regarding Forward-Looking Statements” in Arogo Capital's Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent Forms 10-Q, in the proxy statement/prospectus relating to the proposed business combination to be filed with the SEC, and in any subsequent filings with the SEC, including the definitive proxy statement relating to the proposed business combination and other filings made by Arogo Capital with the SEC from time to time. There may be additional risks that neither Arogo Capital or Bangkok Tellink presently know or that Arogo Capital and Bangkok Tellink currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Nothing contained herein should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither Arogo Capital nor Bangkok Tellink undertakes any duty, and each of Arogo Capital and Bangkok Tellink express disclaim any obligations, to update or alter any projections or forward-looking statements, whether as a result of new information, future events or otherwise. No Offer or Solicitation This press release shall not constitute a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Arogo Capital or Bangkok Tellink, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act. Participants in Solicitation Arogo Capital and Bangkok Tellink, and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Arogo Capital's stockholders in connection with the proposed business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Arogo Capital's stockholders in connection with the proposed business combination will be set forth in the Registration Statement, of which the proxy statement/prospectus forms a part, when it is filed with the SEC. Contacts: For Arogo Capital Acquisition Corp.: Nisachon Rattanamee [email protected] For Bangkok Tellink Company Limited: Daniel Fong [email protected]
Most Americans believe health insurance profits and coverage denials share responsibility for the killing of UnitedHealthcare’s CEO — although not as much as the person who pulled the trigger, according to a new poll. In the survey from NORC at the University of Chicago , about 8 in 10 U.S. adults said the person who committed the killing has “a great deal” or “a moderate amount” of responsibility for the Dec. 4 shooting of Brian Thompson. Despite that, some have cast Luigi Mangione, the 26-year-old suspect charged with Thompson’s murder, as a heroic figure in the aftermath of his arrest, which gave rise to an outpouring of grievances about insurance companies. Police say the words “delay,” “deny” and “depose” were scrawled on the ammunition investigators found at the scene, echoing a phrase commonly used to describe insurer tactics to avoid paying claims. UnitedHealthcare has said Mangione was not a client. About 7 in 10 adults say that denials for health care coverage by insurance companies, or the profits made by health insurance companies, also bear at least “a moderate amount” of responsibility for Thompson’s death. Younger Americans are particularly likely to see the murder as the result of a confluence of forces rather than just one person’s action. Americans see a wide range of factors contributing to UHC CEO’s killing The poll finds that the story of the slaying is being followed widely. About 7 in 10 said they had heard or read “a lot” or “some” about Thompson’s death. Multiple factors were seen as responsible. About half in the poll believe that at least “a moderate amount” of blame is rooted in wealth or income inequality, although they did not think other factors like political divisions in the U.S. held the same level of responsibility. Patients and doctors often complain about coverage denials and other complications interfering with care, especially for serious illnesses like cancer and amyotrophic lateral sclerosis, or ALS. Insurance industry critics frequently point to company profits in questioning whether the interests of patients are their top focus. UnitedHealthcare made more than $16 billion in profit last year, before interest and taxes, on $281 billion in revenue. Insurers frequently note that most of the revenue they bring in goes back out the door to pay for care. UnitedHealthcare said this month that it pays about 90% of medical claims when they are submitted. The insurer has not provided details about how many claims that involved. For young people, blame is spread equally between insurers and the killer Americans under 30 are especially likely to think a mix of factors is to blame for Thompson’s death. They say that insurance company denials and profits are about as responsible as Thompson’s killer for his death. About 7 in 10 U.S. adults between 18 and 29 say “a great deal” or “a moderate amount” of responsibility falls on profits made by health insurance companies, denials for health care coverage by health insurance companies, or the person who committed the killing. Young people are also the least likely age group to say “a great deal” of responsibility falls on the person who committed the killing. Only about 4 in 10 say that, compared with about 6 in 10 between 30 and 59. Roughly 8 in 10 adults over 60 say that person deserves “a great deal” of responsibility. About two-thirds of young people place at least a moderate level of blame on wealth or income inequality, in general. People under 30 are more likely to place blame on the media, with 54% saying that compared with about one-third of older adults. About 3 in 10 struggled with coverage from health insurance in the last year Frustrations with health insurers, coverage, and the complicated U.S. healthcare system have been simmering for years among patients . About 3 in 10 Americans say they have had a problem getting coverage from their health insurer in the last year, whether those involved problems finding a suitable provider in-network, a claim getting denied or issues getting prior authorization or insurer approval before care happens. These struggles are more prevalent among Americans under 60. Insurers say prior authorizations help eliminate waste in the system and let people know whether care will be covered before it is delivered. Roughly 3 in 10 in the poll say immediate family or close friends have experienced problems getting coverage from their health insurer in the last year. Americans under 30 are among the most likely to say they don’t have health insurance. Most Americans get health coverage through their job or by purchasing individual policies. Separate, government-funded programs provide coverage for people with low incomes or those who are age 65 and over or have severe illnesses or disabilities.
Clothes seller has warned it will run out of cash in early 2025 unless it gets more funding. The struggling retailer said sales had been “disappointing” in the trading period and that its cash reserves are “less than previously anticipated”. It said the poor trading was partly because of the “impact of inflationary pressures on consumer confidence and spending”. But it also blamed “subdued consumer demand for the brand”. “As a result, the board anticipates that additional funding will be required by the group in early 2025,” it said on Friday. fashion retailer Quiz has been struggling for several months, and recently announced that it will delist from the London Stock Exchange to cut costs. The company operates 62 stores and 47 concessions across the UK and according to its website has about 1,500 staff. Earlier this month, it said it had suffered a poor trading period in November and had hired advisers as it neared running out of cash. Since then, demand has “shown signs of improvement” in December, with online revenues tracking similar with the previous year, it said. In-store sales caused the company particular headaches, it said, with sales trending “behind those achieved last year”. Chairman Peter Cowgill said the company needs to “substantially reduce” costs, which will likely see the closure of parts of the business. Beyond that, he wrote, “there exists substantial risks associated with the group’s ability to continue as a going concern”, meaning it could go bust. The company pointed to a potential extra annual cost of £1.7 million because of increases in the minimum wage and employer national insurance contributions. Those policies, announced by the Government in the autumn, will not take effect until April, before which Quiz needs fresh funding.
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