LatAmGrowth SPAC IPO: All you need to know

2 min read | January 25, 2022 09:58 AM PST | By Rupam Roy

Google News:

LatAmGrowth SPAC IPO: All you need to know — Image source: © Artinspiring | Megapixl.com

Recent News

Advanced Micro Devices (NASDAQ:AMD): Is the Dip Overdone?

NVIDIA (NASDAQ:NVDA): Is the AI Pullback Overdone?

Lucid Group (NASDAQ:LCID) Rebounds, but Can It Last?

Honeywell International (NASDAQ:HON) Faces A Crucial Test

Make Kalkine Media
My Trusted Source

Highlights

The company is offering 13 million units in the IPO.

The pricing of IPO is US$10 per unit.

The company will start trading on Nasdaq Global Market on January 25.

Blank-check company LatAmGrowth SPAC is set to debut in the US stock market on Tuesday after it announced the pricing of its initial public offering (IPO) on the previous day.

LatAmGrowth, a special purpose acquisition company, was founded to effect a merger and focuses on high-growth companies in the United States and Latin America.

It aims to establish business ties with companies having a strong technological advantage.

Also Read: Coinbase stock slips 10% - Will the dip stop dipping?

LatAmGrowth IPO

On Monday, the company announced to offer 13 million shares in the IPO. Each unit comprises one Class A ordinary share and one-half of one redeemable warrant.

The IPO is priced at US$10 per share. The holder of each whole warrant is entitled to purchase one Class A ordinary share for US$11.50 per share.

As per rules, only whole warrants can be bought or sold.

Also Read: Crypto market loses US$130 bn in 24 hours as Bitcoin, Ethereum slip

The company will start trading its Class A ordinary shares and redeemable warrants on the Nasdaq Global Market (NASDAQ) under the ticker symbols LATG and LATGU, respectively.

The underwriters are offered an additional 1.95 million shares, which they can purchase within 45 days at the offering price, in case of over-allotments, if any.

Also Read: Chime aims for US$40-billion valuation in IPO: Report

Also Read: Falling prices stoke a winter of discontent for the crypto market

Bottomline

The book-running managers for the offering are BofA Securities and Banco BTG Pactual S.A. The US IPO market has cooled down lately after seeing a record number of offerings last year. Market volatility, inflation, and other unfavorable macro-economic factors have forced companies to delay their IPO plans in the first quarter.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.