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.
Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....