Farmland company Source Agriventures (SRAV.US) hits NASDAQ: Can only a 158-acre farm under its name be able to rent an AI data center?

The Zhitong Finance App learned that Source Agriventures submitted documents to the US Securities and Exchange Commission (SEC) on Monday to raise up to 15 million US dollars through an IPO. The company aims to hold farmland and rent it out for agricultural and energy use.

Source Agriventures owns US farmland and leases it to tenant farmers, and plans to increase revenue through renewable energy, data centers, and agTech (AgTech) projects on its land. The company's only property is a 158-acre farm in Macon County, Illinois, which has been leased to a tenant farmer and leased to RWE Clean Energy (RWE Clean Energy) to develop a wind energy project.

The company plans to acquire more farms in the Midwest and the Sun Belt (Sun Belt), with an initial purchase price of 2 million to 10 million US dollars each, and lease some of this land to renewable energy developers, and eventually to AI data center operators. The company currently has very little revenue and is in the red.

Source Agriventures was founded in 2023 and plans to be listed on NASDAQ under the stock symbol SRAV. Aegis Capital Corp. is the sole bookkeeper for this transaction. The company did not disclose pricing terms.