Alpha Capital Acquisition, a blank check company targeting technology businesses in Latin America, 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. Co-sponsor Innova Capital had indicated on 2.3 million units in the offering.
The company is led by CEO and Chairman Alec Oxenford, who previously co-founded letgo in 2015 and served as its CEO until 2020; CFO Rahim Lakhani, who previously served as the CFO of letgo Global B.V. and Offerpad; and President and Director Rafael Steinhauser, the former President of Qualcomm Latin America. Alpha Capital Acquisition intends to seek a business combination with a Latin American-focused technology business that will benefit from the founders’ experience growing and operating businesses in this industry throughout Latin America.
Alpha Capital Acquisition plans to list on the Nasdaq under the symbol ASPCU. Citi and BofA Securities acted as lead managers on the deal.
