Cartesian Growth III, the third blank check company formed by Cartesian Capital Group targeting high-growth businesses, raised $240 million by offering 24 million units at $10. The company offered 4 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
Cartesian Growth III is led be CEO and Chairman Peter Yu, founder and Managing Partner of global private equity firm Cartesian Capital Group. The SPAC plans to target high-growth businesses with proven or potential transnational operations or outlooks.
Cartesian's previous SPACs include Cartesian Growth II (RENEU), which went public in 2022 and is still searching for a target, and Cartesian Growth, which merged with global investment firms Tiedemann Group and Alvarium Investments to form AlTi Global (Nasdaq: ALTI; -67% from $10 offer price) in January 2023.
Cartesian Growth III plans to list on the Nasdaq under the symbol CGCTU. Cantor Fitzgerald acted as sole bookrunner on the deal.
