The Latin America-focused SPAc filed wit the SEc to offer 5 million units at $10 each. A unit consists of one share of Class A common stock and one warrant. Each warrant entitles the holder to purchase a share of Class A common stock at a price of $11.50 per share, but does not become exercisable until 30 days after the completion of a business combination. Warrants expire on the fifth anniversary of completion of an initial business combination.
DILA stands for Development in Latin America. The SPAC’s sponsor is an affiliate of DILA Capital, a venture capital firm with presence in Miami, Mexico City, and Buenos Aires, Argentina. Since its founding in 2013, DILA Capital has been focused on investing in early-stage companies with high growth potential doing business in Spanish-speaking Latin America.
The SPAC is led by CEO and Chairman Eduardo Clave, who co-founded DILA Capital in 2013 and serves as managing partner.
The SPAC has applied for a Nasdaq listing under DILAU. Read more.
