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Crescera Capital SPAC Raises USD201m in Nasdaq IPO

23 November 2021

Crescera Capital Acquisition, a SPAC formed by Crescera Capital targeting businesses in Latin America, raised USD201m in an IPO on the Nasdaq.

(Business Wire) Crescera Capital Acquisition Corp. (“Crescera” or the “Company”) announced the closing today of its initial public offering of 20,125,000 units at $10.00 per unit, including the exercise in full by the underwriter to purchase an additional 2,625,000 units to cover over-allotments. The units began trading on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “CRECU” on November 19, 2021. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be listed on Nasdaq under the symbols “CREC” and “CRECW,” respectively.

The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to seek a business combination with a company not limited to a particular industry, sector or geographic region in Latin America. The Company’s sponsor is associated with the Brazilian asset management firm Crescera Capital.