Emerging markets-focused SPAC Capitalworks Emerging Markets Acquisition files for a $200 million IPO

Capitalworks Emerging Market Acquisition, a blank check company targeting emerging market businesses, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.

The New York, NY-based company plans to raise $200 million by offering 20 million units at $10 per unit. Each unit contains one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed valuation, Capitalworks Emerging Market Acquisition would command a fully diluted market value of $250 million. 

The company is led by CEO and Director Roberta Brzezinski, head of sponsor Capitalworks' global emerging markets practice, and CFO Herman Kotze, an executive on Capitalworks' special projects team and former CEO of Net 1 UEPS Technologies. Capitalworks Emerging Market Acquisition plans to leverage management's expertise to target companies with scalable emerging market operations, primarily within consumer tech, financial and business services, healthcare, and TMT. 

The company was founded in 2021 and plans to list on the Nasdaq under the symbol CMCAU. Capitalworks Emerging Market Acquisition filed confidentially on June 21, 2021. Barclays is the sole bookrunner on the deal.