Cartesian Growth IV, the fourth blank check company formed by Cartesian Capital Group targeting high-growth businesses, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third 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, as well as CFO and Director Nam Trinh, a Managing Director at Cartesian. The SPAC plans to target high-growth businesses with proven or potential transnational operations or outlooks.
Management's previous SPACs include Cartesian Growth III, which merged with EV battery developer Factorial (FAC; +19% from $10 offer price) earlier this month; Cartesian Growth II (Nasdaq: RENEU; +17%), which is still searching for a target; and Cartesian Growth, which merged with wealth manager AlTi Global (Nasdaq: ALTI; -68%) in 2023.
The New York, NY-based company will trade on the Nasdaq under the symbol CGCFU. Cantor Fitzgerald acted as sole bookrunner on the deal.
