West Enclave Merger, a blank check company targeting Mexico and Latin America-focused businesses, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of one ordinary share upon the consummation of an initial business combination.
West Enclave Merger is led by Co-CEO, Co-Chairman, and CFO Emilio Mahuad Quijano, who is the former CEO of Lazard Financial Advisory Mexico and former Country Head of Mexico and Head of Corporate and Investment Banking of UBS. He is joined by Co-CEO and Co-Chairman Adrian Otero Rosiles, who is the former CEO of Scotiabank Mexico.
The SPAC intends to target businesses that operates in Latin America or a U.S. based business whose revenues, operations, or strategic growth are positioned to benefit from the economic interconnection between the United States and Latin America, particularly Mexico.
The Mexico City, Mexico-based company will trade on the NYSE under the symbol WENC.U. EarlyBirdCapital acted as sole bookrunner on the deal.
