Valor Latitude Acquisition, a blank check company formed by Valor Capital Group targeting tech-enabled Latin American businesses, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
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 plans to list on the Nasdaq under the symbol VLATU. BofA Securities and Barclays acted as lead managers on the deal.
