Peruvian billionaire-backed SPAC aims to raise $250 mln in U.S. IPO
09/03/2021 15:43
March 9 (Reuters) - A blank-check firm backed by Peruvian
billionaire Carlos Rodriguez-Pastor is aiming to raise $250
million in its U.S. initial public offering, according to a
regulatory filing on Tuesday.
Excelsa Acquisition Corp, a special purpose acquisition
company (SPAC), will target businesses across financial
services, healthcare, retail, education, entertainment and
consumer goods industries in Latin America.
Rodriguez-Pastor, 61, also owns a big part of Intercorp
Financial Services IFS.LM , which provides banking, insurance
and wealth management services for retail customers and
commercial clients in Peru.
He also owns companies in the retail, real estate, and
education industry in Peru and his net worth is pegged at more
than $5 billion, according to Forbes.
Excelsa Acquisition Corp will sell 25 million units, made up
of shares and warrants, priced at $10 per piece, according to
the filing. It will list its units on the New York Stock
Exchange under the symbol "XLSAU". https://bit.ly/2O7tOxZ
A SPAC is a shell company that raises money in an IPO before
merging itself with a privately held company to take the latter
public.
Credit Suisse and J.P. Morgan are underwriters on the
offering.
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by
Shailesh Kuber)
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