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Mercato Partners Acquisition Corporation (MPRA) is a publicly traded special purpose acquisition company (SPAC) listed on NASDAQ. Established with the primary goal of merging with one or more businesses, Mercato Partners aims to provide value to its shareholders through strategic business combinations.
Recently, Mercato announced a significant development: the registration statement on Form F-4 of Nvni Group Limited, a company registered in the Cayman Islands, has been declared effective by the U.S. Securities and Exchange Commission (SEC). This relates to a proposed business combination with Nuvini Holdings Limited, a leading acquirer of software businesses in Latin America. The new entity, New PubCo, will be listed under the symbols 'NVNI' and 'NVNIW' on NASDAQ upon completion of the merger.
The decisive vote on this merger will take place at a special meeting on September 28, 2023. All shareholders, regardless of their share count, are encouraged to vote to ensure their interests are represented. This merger promises to enhance the value of their investment by combining the strengths of Mercato and Nuvini.
Nuvini Group, headquartered in São Paulo, Brazil, specializes in acquiring profitable SaaS (Software as a Service) companies within the business-to-business segment in Latin America. Its portfolio includes Effecti Tecnologia Web Ltda., Leadlovers Tecnologia Ltda., Ipê Tecnologia Ltda., Dataminer Dados, Informações e Documentos Ltda., OnClick Sistemas de Informação Ltda., Simplest Software Ltda., and SmartNX Tecnologia Ltda. Nuvini focuses on companies with recurring revenue, positive cash generation, and growth potential, ensuring they provide essential solutions to their customers.
Mercato Partners has engaged Maxim Group LLC as a financial advisor, with Latham & Watkins LLP, Machado Meyer, and Maples and Calder (Cayman) LLP serving as legal advisors. Similarly, Mayer Brown LLP, Tauil & Chequer Advogados, and Carey Olsen Cayman Limited are advising Nuvini and New PubCo.
This merger will not only strengthen the capabilities of both entities but also pave the way for continued growth in Latin America’s flourishing SaaS market. The combined company will benefit from the strategic vision of Nuvini, which focuses on fostering entrepreneurial environments and creating long-term value through partnerships with existing management teams.
For more information, shareholders may contact Morrow Sodali LLC, Mercato's proxy solicitor, or refer to the SEC filings available online.
Nuvini has entered into a business combination agreement with Mercato Partners Acquisition Corporation (NASDAQ: MPRA) to acquire a portfolio of high-growth SaaS companies in Latin America. The transaction is estimated to have an enterprise value of approximately
On January 10, 2023, Mercato Partners Acquisition Corporation (NASDAQ: MPRA) announced a non-binding letter of intent for a business combination with Nuvini S.A., a leading software-as-a-service company acquirer in Latin America. Headquartered in Sao Paulo, Nuvini is focused on expanding its portfolio of high-growth companies. The transaction, subject to board and regulatory approvals, is aimed at enhancing market access and capital for future acquisitions.
Mercato Partners Acquisition Corporation announced that starting December 27, 2021, holders of units from its IPO can separately trade shares of Class A common stock and warrants. These will be traded on the Nasdaq under symbols MPRA and MPRAW, respectively. Units not separated will continue to trade under MPRAU. The offering was managed by BofA Securities, and a registration statement became effective on November 3, 2021. This press release does not constitute an offer for the sale of securities.
Mercato Partners Acquisition Corporation (MPRA) has priced its initial public offering (IPO) at $10.00 per unit, generating gross proceeds of $200 million. The IPO consists of 20 million units, each comprising one share of Class A common stock and a half warrant, with the warrants entitling holders to purchase additional shares at an exercise price of $11.50. The trading on Nasdaq under the symbol MPRAU begins on November 4, 2021, with an expected closing on November 8, 2021. BofA Securities is the sole underwriter for the offering.
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