Business
Data Software Platform Semantix to Become Publicly Traded on Nasdaq via SPAC Merger with Alpha Capital
Alpha Capital is the first Latin American-focused technology SPAC to merge with a target company Latin America’s first fully integrated data software
About this update from A Spac Iii Acquisition Corp.
[{"type":"text","content":"\nAlpha Capital is the first Latin American-focused technology SPAC to merge with a target company\n\nLatin America’s first fully integrated data software platform is expected to have a market capitalization of approximately $1 billion\n\nSemantix expects to have a net revenue compound annual growth rate of 57% between 2019 and 2023, and increase its current customer base of 300 companies in over 15 countries\n\n NEW YORK--(BUSINESS WIRE)--\nSemantix, Latin America’s first fully integrated data software platform, announced today that it has entered into a definitive agreement to merge with Alpha Capital (Nasdaq: ASPC), a special purpose acquisition company (“SPAC”) focused on technology. The announcement marks the first time a Latin American-focused technology SPAC has merged with a target company.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211117005796/en/Semantix founder and CEO, Leonardo Santos. (Photo: Business Wire)\nSemantix will have an implied equity value of approximately $1 billion, assuming a $10.00 per share price and no trust redemptions, and is expected to trade on the Nasdaq Capital Market (“Nasdaq”) under the ticker symbol STIX. In connection with the transaction, institutional investors have committed approximately $94 million in subscriptions to a private placement in public equity (“PIPE”), which is expected to be funded at the merger’s closing. Innova Capital, one of Alpha Capital’s largest existing investors, has committed not to redeem $23 million of Alpha Capital’s publicly traded Class A ordinary shares. Together with the current PIPE commitments, this represents sufficient capital to satisfy the minimum cash condition to complete the transaction. The merger is expected to close in the first half of 2022, subject to shareholder approvals and other customary closing conditions.\n\nSemantix’s current management team will continue to oversee the business and use the transaction’s proceeds to grow its share of the $89 billion addressable market opportunity in data software, storage and integration. It targets its services to a range of companies in industrial, finance, retail, telecommunications, healthcare and other sectors, from small businesses to large enterprises.\n\nFounded in 2010 by CEO Leonardo Santos, Semantix expects to earn nearly ...