IPOs

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.

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.

Latest IPOs Videos

    Renaissance Capital

    Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products.

    Learn More