Alpha Capital SPAC plunges after shareholders OK deal with Brazil's Semantix

Semantix

03/08/2022 19:32

** Shares of Alpha Capital Acquisition Co  ASPC.O  plunging
34.2% to $6.60 on Weds
    ** Special purpose acquisition co after the bell Tues said
shareholders approved merger with Brazilian data software firm
Semantix  urn:newsml:reuters.com:*:nBwQDHF9a
    ** Combined co to be named Semantix Inc; shares set to start
trading on Nasdaq on Thurs (Aug 4) under ticker "STIX"
    ** Semantix agreed last Nov to list publicly in U.S. in $1
bln deal  urn:newsml:reuters.com:*:nL4N2S82TH
    ** Tie-up expected to bring Semantix $324 mln, assuming no
redemptions by SPAC holders, including $94 mln PIPE (private
investment in public equity)
    ** A unit of Banco Bradesco SA  BBDC4.SA , one of Brazil's
biggest lenders, invested in the PIPE
    ** The SPAC market has flamed out this year amid elevated
regulatory scrutiny, extreme volatility, high shareholder
redemptions and collapsing share prices

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))