Andina Acquisition III, a blank check company formed to acquire a business in Latin America, filed on Friday with the SEC for an initial public offering.
The Bogotá, Colombia-based company plans to raise $100 million by offering 10 million units at a price of $10. Each unit consists of one ordinary share, one right to receive one-tenth of a share, and one redeemable warrant exercisable at $11.50. At $10 per share, Andina Acquisition III would command a market value of $129 million.
Andina Acquisition III was founded in 2016 and plans to list on the Nasdaq under the symbol ANDAU. Cowen and Craig-Hallum Capital Group are the joint bookrunners on the deal.
