TPB Acquisition I called a Feb. 22 meeting for shareholders to vote on the proposed business combination with Lavoro, an agricultural inputs retailer based in Latin America.
The SEC has declared the SPAC’s registration statement effective.
Announced in September, the transaction will be funded by up to $180 million from cash in the SPAC’s trust and $100 million that TPB intends to raise through a PIPE at $10 per share. The deal has an implied initial enterprise value of approximately $1.2 billion.
If approved, upon closing Lavoro is expected to list on the Nasdaq with shares and warrants trading under new ticker symbols LVRO and LVROW. Read more.
