SPAC Mercato rises as Nuvini's Nasdaq listing edges closer

Nvni

29/09/2023 16:49

** Shares of special purpose acquisition company
(SPAC)Mercato Partners Acquisition  MPRA.O  up 7.8% at $9.81 
    ** Nuvini, Brazilian holding company for
software-as-a-service firms, will list in New York via a merger
with MPRA, valuing it at $235 mln
    ** Nuvini will start trading on Nasdaq on Monday under the
ticker symbol "NVNI"
    ** The deal will inject around $60 million into Nuvini that
will be used to acquire more startups - CEO Pierre Schurmann
    ** Nuvini holds seven startups providing a wide range of
software services to businesses mainly in Brazil
    ** Including session moves, stock down ~5% YTD

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))