Mercato Partners Acquisition Corporation (MPRA) Adds $11M PIPE to Nuvini Deal
by Nicholas Alan Clayton on 2023-09-25 at 7:07am

Mercato Partners (NASDAQ:MPRA) announced in an 8-K this morning that it has added an $11.1 million PIPE at $10 per share to its combination with Brazilian software firm Nuvini.

The PIPE investors remain unnamed for now, but this move would cover the combination’s $10 million minimum cash condition. That eliminates some uncertainty as Mercato approaches its September 28 combination vote.

The SPAC has about $45.9 million in its trust going into the vote after seeing 81.3% of its shares redeemed in a February extension.

The two sides announced their $312 million combination shortly after that extension vote. Sao-Paulo-based Nuvini is a leading acquirer of business software firms in Brazil, counting seven companies in its portfolio.

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