Brazilian software firm Semantix to list in U.S. via $1 bln SPAC deal

Semantix

17/11/2021 13:21

Nov 17 (Reuters) - Brazil's Semantix said on Wednesday it
would go public in the United States by merging with a
blank-check firm in a deal valuing the data software company at
about $1 billion.
    Founded in 2010, Semantix runs a fully-integrated data
software platform and has more than 300 clients in 15 countries
spread across sectors such as retail, healthcare, financial
services and telecom. 
    AT&T Inc  T.N , Mercedes-Benz and Samsung  005930.KS  are
among the companies that use Semantix's services, according to
its website.
    The merger with Alpha Capital  ASPC.O  is expected to fetch
Semantix proceeds of $324 million, which consist of $94 million
from private investment in public equity (PIPE) and about $230
million from the special purpose acquisition company's (SPAC)
IPO.
    Inovabra Ventures, a unit of Brazil's second-biggest lender
Banco Bradesco SA, and investment firms Crescera and FJ Labs
were among the investors in the PIPE.
    A SPAC is a publicly listed shell company that raises funds
with the intention of merging with a private company within two
years of floating its shares. The private firm goes public
through the merger.
    Semantix will list on the Nasdaq after the deal closes,
which is expected by the second quarter of 2022.  

 (Reporting by Manya Saini, additional reporting by Niket
Nishant in Bengaluru; Editing by Aditya Soni)
 ((Manya.Saini@thomsonreuters.com;))