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Brazilian asset manager's SPAC Crescera Capital Acquisition prices $175 million IPO

November 19, 2021

Crescera Capital Acquisition, a blank check company formed by Crescera Capital targeting businesses in Latin America, raised $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

Crescera Capital Acquisition is led by CEO Felipe Argalji and Chairman Jaime Danvila, who are both Partners at independent asset management firm Crescera Capital. The company plans to target businesses with operations in Latin America, preferably Brazil, in either the technology, healthcare, education, or consumer sector. Crescera Capital has made several investments since its inception, including 2019 US IPO Afya (AFYA).

Crescera Capital Acquisition plans to list on the Nasdaq under the symbol CRECU. UBS Investment Bank acted as sole bookrunner on the deal.