SPAC Capitalworks Emerging Markets Acquisition prices $200 million IPO

Capitalworks Emerging Markets Acquisition, a blank check company backed by Capitalworks targeting growth businesses in emerging markets, raised $200 million by offering 20 million units at $10. Each unit contains one share of common stock and one-half of a warrant, exercisable at $11.50.

The company is led by CEO and Director Roberta Brzezinski, head of sponsor Capitalworks' global emerging markets practice, and CFO Herman Kotzé, an executive on Capitalworks' special projects team and former CEO of Net 1 UEPS Technologies. The SPAC has a $20 million forward purchase agreement with Camber Base, an affiliate of the Brown University endowment, which also supports the SPAC's sponsor.

Capitalworks Emerging Markets Acquisition plans to leverage management's expertise to target scalable high-growth businesses in emerging markets (ex-China), primarily within consumer tech, financial and business services, healthcare, and TMT.  

The New York, NY-based company plans to list on the Nasdaq under the symbol CMCAU. Barclays acted as sole bookrunner on the deal.