Brazil-focused SPAC Itiquira Acquisition prices $200 million IPO

Itiquira Acquisition, a blank check company targeting growth sectors in Brazil, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. SPX Equities Gestão de Recursos, a member of the sponsor, had indicated on 2 million units in the offering.

The company is led by CEO and Chairman Paulo de Gouvea, who has been a Founding Managing Partner of Ygeia Capital Gestão de Recursos since 2015. He is joined by CFO Marcus Silberman, who has served as a Principal at CH Global Capital since 2019 and previously was Co-Head of Latin America M&A at BofA Securities from 2014 to 2019.

Itiquira Acquisition intends to search for a target in Brazil, focusing on sectors with strong growth potential, high correlation to Brazil growth, resilient business models, in non-cyclical industries, with favorable secular trends, including those that have been historically underserviced by the government. These include technology, healthcare, pharma, education, and consumer services, among others.

Itiquira Acquisition plans to list on the Nasdaq under the symbol ITQRU. Citi and UBS Investment Bank acted as lead managers on the deal.

The article Brazil-focused SPAC Itiquira Acquisition prices $200 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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