MELI Kaszek Pioneer in an 8-K said it will dissolve and redeem shares effective June 16.
“We still firmly believe in our initial investment thesis: generating long term returns within the Latin American technology ecosystem through partnering with exceptional entrepreneurs to facilitate their transition from private to public markets, whilst leveraging MercadoLibre’s commercial and operational support and Kaszek’s validation and advice,” the SPAC’s management said in a statement . “However, it has become clear to us that the current condition of capital markets, and the timeframe offered by the SPAC product, have not aligned to deliver the outcomes we anticipated.”
The SPAC team said it engaged “in significant conversations” with 50 potential companies, held advanced discussions with 24, performed in-depth diligence, analysis and structuring work on eight, and signed MOUs with two.
Meli Kaszek Pioneer raised $250 million in a September 2021 IPO, but never announced a deal. The SPAC was focused on technology-enabled companies operating in Latin America.
The per-share redemption amount is expected to be $10.32. Read more.
