Alpha Capital set an Aug. 2 meeting for shareholders to vote on the SPAC’s proposed merger with Semantix, which bills itself as Latin America’s first fully integrated data platform. The F-4 registration statement on the $693 million deal has been declared effective by the SEC.
The transaction is expected to produce proceeds of $324 million, including $230 million from the Alpha Capital trust, less any redemptions, as well as a $94 million PIPE with participation from Inovabra Ventures (a fully owned subsidiary of Bradesco, one of Brazil’s financial institutions), Crescera, FJ Labs, Oxenford, Steinhauser and others.
Innova Capital, one of Alpha Capital’s largest existing shareholders, has also committed not to redeem $23 million of Alpha Capital’s publicly traded shares. That amount, plus the PIPE provides $117 million of committed capital that will satisfy the minimum cash of $85 million required to close the deal. Read more.
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