Latin America-focused SPAC LatAmGrowth SPAC files for a $130 million IPO

LatAmGrowth SPAC, a blank check company targeting high growth businesses in Latin America, filed on Wednesday with the SEC to raise up to $130 million in an initial public offering.

The New York, NY-based company plans to raise $130 million by offering 13 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, LatAmGrowth SPAC would command a market value of $163 million.

The company is led by CEO, CFO, and Director Gerard Cremoux, the former Head of Investment Banking for Latin America at UBS Investment Bank, and Chairman Eduardo Cortina, Managing Director at DigitalBridge and Co-Managing Partner of SouthLight Capital. The company plans to target high growth businesses in Latin America, including Brazil, as well as businesses located in the United States that cater to the Hispanic community.

LatAmGrowth SPAC was founded in 2021 and plans to list on the Nasdaq under the symbol LATGU. The company filed confidentially on July 15, 2021. BofA Securities and BTG Pactual are the joint bookrunners on the deal.