L Catterton Latin America Acquisition, a blank check company formed by L Catterton targeting high-growth consumer sectors in Latin America, withdrew its plans for an initial public offering on Tuesday. It had filed in June 2021 to raise $200 million by offering 20 million units at $10. Each unit most recently contained one share of common stock and one-half of a warrant.
The company was set to be led by Executive Chairman Dirk Donath and CEO and Director Ricardo Salmon, who serve as Managing Partner and Senior Advisor at L Catterton focused on Latin America, respectively. The company had planned to target high-growth consumer sectors across Latin America, with the exception of businesses that invest in oil or gas reserves or real estate.
The Greenwich, CT-based company was founded in 2021. It had planned to list on the NYSE under the symbol LCLA.U. Credit Suisse was set to be the sole bookrunner on the deal.
