Alpha Capital (ASPC) Shareholders Approve Semantix Deal
by Marlena Haddad on 2022-08-02 at 4:52pm

Alpha Capital (NASDAQ:ASPC) announced in a press release this afternoon that its shareholders have approved its combination with data software platform Semantix at a special meeting held earlier today.

The press release did not include redemption figures, but Alpha’s $93.6 million PIPE alone is sufficient to satisfy the deal’s $85 million minimum cash condition. ASPC also traded above its trust value of $10 throughout its redemption deadline July 29, and closed today at $10.03. The PIPE drew participation from existing investors and institutions including Inovabra Ventures, Crescera, FJ Labs, Oxenford, Steinhauser, and Innova Capital. In addition to joining the PIPE, Innova Capital also committed not to redeem $23 million of its public Alpha shares.

The business combination is now expected to close tomorrow, August 3, 2022 and the combined company will be renamed “Semantix, Inc.” The common stock and warrants are set to begin trading on Nasdaq on Thursday, August 4, 2022 under the new ticker symbols, “STIX” and “STIXW”, respectively.

Alpha Capital announced the $693 million deal on November 17, 2021. São Paulo, Brazil-based Semantix provides cloud-data services to clients in three Latin American markets and the US.


ADVISORS

  • Credit Suisse is serving as exclusive financial advisor to Semantix
  • Skadden, Arps, Slate, Meagher & Flom LLP acting as legal advisor to Semantix
  • Pinheiro Neto Advogados as legal advisor on Brazilian matters to Semantix.
  • Citibank is serving as capital markets advisor to Alpha Capital.
  • Davis Polk & Wardwell LLP is serving as legal advisor to Alpha Capital
  • Mattos Filho as legal advisor on Brazilian matters.
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