APx Acquisition I, a blank check company formed by APx Capital targeting businesses in Spanish-speaking Latin American countries, filed on Friday with the SEC to raise up to $150 million in an initial public offering.
The Mexico City, Mexico-based company plans to raise $150 million by offering 15 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, APx Acquisition I would command a market value of $188 million.
The company is led by CEO and Chairman Daniel Braatz, co-founder and CEO of Mexico-based alternative investment fund APx Capital. The company plans to target businesses in Mexico, Spanish-speaking Latin America, and Hispanic businesses in the US, prioritizing those with significant technological advantages and strong fundamentals.
APx Acquisition I was founded in 2021 and plans to list on the Nasdaq under the symbol APXIU. BofA Securities is the sole bookrunner on the deal.
