DILA Capital Acquisition Corp. Announces The Pricing Of Upsized $55 Million Initial Public Offering

Rhea-AI Summary

DILA Capital Acquisition Corp. recently priced its upsized initial public offering (IPO) of 5,500,000 units at $10.00 per unit. Trading for these units is set to begin on June 15, 2021, under the symbol DILAU on the Nasdaq Capital Market. Each unit comprises one share of Class A common stock and one redeemable warrant, allowing for the purchase of another share at $11.50. The closing of the offering is expected on or around June 17, 2021. The company aims to pursue mergers and acquisitions primarily within the tech sector in Latin America and the Hispanic market in the U.S.

Positive

• Upsized IPO offering of 5,500,000 units at $10.00 per unit.
• Each unit comprises one share and one redeemable warrant.
• Focused on acquiring tech companies in Latin America and the Hispanic community in the U.S.

Negative

• None.

MIAMI, June 15, 2021 /PRNewswire/ -- DILA Capital Acquisition Corp. (the "Company") announced today the pricing on June 14, 2021 of its upsized initial public offering of 5,500,000 units at $10.00 per unit. The units are expected to commence trading today on the Nasdaq Capital Market under the symbol "DILAU." Each unit consists of one share of Class A common stock and one redeemable warrant, with each warrant entitling the holder to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the common stock and warrants are expected to be traded on the Nasdaq Capital Market under the symbols "DILA" and "DILAWS", respectively.

The Company is a blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses.  While the Company may pursue an initial business combination with a company in any sector or geography, it intends to focus its search on companies with significant operating technological advantage that are headquartered in Latin America, as well as businesses located in the United States which cater to the Hispanic community.

EarlyBirdCapital, Inc. is acting as the sole book-running manager of the offering. The underwriters have been granted a 45-day option to purchase up to an additional 825,000 units at the initial public offering price to cover over-allotments, if any.

The offering is expected to close on or about June 17, 2021, subject to customary closing conditions.

Registration statements relating to these securities have been declared effective by the Securities and Exchange Commission (the "SEC") on June 14, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from EarlyBirdCapital, Inc., 366 Madison Avenue, 8^th Floor, New York, NY 10017, Attn: Syndicate Department, (212) 661-0200.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements 

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including with respect to the initial public offering and the anticipated use of the proceeds thereof, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements, including those set forth in the risk factors section of the registration statement and preliminary prospectus for the Company's initial public offering. Copies of these documents can be accessed through the SEC's website at www.sec.gov. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.

Contact:
DILA Capital Acquisition Corp.
Eduardo Clave
(970) 393-2155
eduardo@dilacapital.com 

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SOURCE DILA Capital Acquisition Corp.

FAQ

What is the price of DILA Capital Acquisition Corp.'s IPO?

The IPO is priced at $10.00 per unit.

What will be the trading symbol for DILA Capital Acquisition Corp. on Nasdaq?

The trading symbol will be DILAU.

When does the trading for DILA Capital Acquisition Corp. units begin?

Trading is set to begin on June 15, 2021.

What is included in each unit of the IPO?

Each unit consists of one share of Class A common stock and one redeemable warrant.

What is the exercise price for the warrant associated with DILA's units?

The warrant allows for the purchase of one share at an exercise price of $11.50.