HPX today in an 8-K filing said it borrowed working capital of $410,000 from its sponsor.
The SPAC last July inked a merger deal with Emergência Participações S.A., a Beazil-based environmental and industrial service provider with a global presence.
If approved, upon closing Ambipar Emergency Response, a newly incorporated Cayman Islands exempted company that will hold the business of Emergência Participações S.A., is expected to list on the NYSE under the ticker symbol AMBI.
The business combination values Ambipar Response at an implied $581 million enterprise value and a pro forma equity value of approximately $798 million, assuming no HPX redemptions.
HPX raised $200 million in a July 2020 IPO. Read more.
