Alpha Capital filed an amendment to its merger deal with Semantix to correct what it called errors in the original business combination agreement. In addition, the amended agreement also revised the list of shareholders who would be eligible to receive the Semantix Earn-Out Shares upon the achievement of certain price targets described in the business combination agreement.
The deal is valued at $693 million.
If approved, Semantix will list on the Nasdaq under the ticker symbol STIX. Alpha Capital in February said it has sufficient PIPE and non-redemption commitments to meet the minimum cash condition necessary to complete the deal, which is expected to close in the first half of 2022.
The transaction is funded with $324 million, including $230 million from the Alpha Capital trust as well as a $94 million PIPE.
Semantix is Latin America’s first fully integrated data software platform, based in Sao Paulo, Brazil. Read more.
