Latin America-focused SPAC Valor Latitude Acquisition files for a $200 million IPO
Valor Latitude Acquisition, a blank check company formed by Valor Capital Group targeting tech-enabled Latin American businesses, filed on Thursday 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. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Valor Latitude Acquisition would command a market value of $250 million.
The company is led by Chairman Clifford Sobel, co-founder and Managing Partner of Valor Capital Group, an investment firm focused on Brazil and US-Brazil cross-border opportunities, and CEO and Director Mario Mello, an Operating Partner of Valor Capital Group. The company plans to target technology-enabled Latin American businesses seeking to become category-defining enterprises and those targeting or expected to pursue cross-border expansion.
Valor Latitude Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol VLATU. The company filed confidentially on February 8, 2021. BofA Securities and Barclays are the joint bookrunners on the deal.
The article Latin America-focused SPAC Valor Latitude Acquisition files for a $200 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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