Private equity firm's SPAC Cartesian Growth Corp prices upsized $300 million IPO

Cartesian Growth Corp, a blank check company formed by Cartesian Capital Group targeting high-growth businesses, raised $300 million by offering 30 million units at $10. The company offered 5 million more units than anticipated. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.

The company is led by CEO and Chairman Peter Yu, the founder and Managing Partner of Cartesian Capital Group, and CFO and Director Gregory Armstrong, who is a Senior Managing Director at Cartesian. The company plans to target high-growth businesses with proven or potential transnational operations or outlooks in order to capitalize on the experience, reputation, and network of its management team.

Cartesian Growth Corp plans to list on the Nasdaq under the symbol GLBLU. Cantor Fitzgerald acted as a lead manager on the deal.