Valor Latitude Acquisition closed its IPO of 20 million units at $10 each.
Units trade on the Nasdaq under VLATU. Each consists of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant exercisable at $11.50 for a share. After the securities comprising the units begin separate trading, shares and warrants are expected to list under VLAT and VLATW, respectively.
Valor Latitude intends to seek a business combination with a technology-enabled Latin American company.
BofA Securities and Barclays are the book-running managers of the offering. The underwriters have a 45-day option to purchase up to an additional 3 million units at the IPO price to cover any over-allotments. Read more.
