Cartesian Growth Corporation announced the closing of its initial public offering of 34,500,000 units, including 4,500,000 units pursuant to the exercise of the underwriters’ over-allotment option.
The offering was priced at $10.00 per unit generating total gross proceeds of $345,000,000. The Company’s sponsor is an affiliate of Cartesian Capital Group, LLC, a global private equity firm specializing in providing growth capital to transnational businesses.
The units are listed on the Nasdaq Capital Market and trade under the ticker symbol “GLBLU.” Each unit consists of one Class A ordinary share of the Company and one-third 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. Once the securities comprising the units begin separate trading, the Company expects that its Class A ordinary shares and warrants will be listed on the Nasdaq Capital Market under the ticker symbols “GLBL” and “GLBLW,” respectively.
Cantor Fitzgerald & Co. served as the sole book-running manager of the offering.
Cartesian Growth Corporation is a blank check company organized for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, or reorganization or engaging in any other similar business combination with one or more businesses or entities.
The Company is led by Chairman and Chief Executive Officer, Peter Yu, who is also the Managing Partner of Cartesian Capital Group, LLC, a global private equity firm and registered investment adviser headquartered in New York City, New York. The Company’s acquisition and value-creation strategy is to identify and combine with an established high-growth company that can benefit from both a constructive combination and continued value-creation by the Company’s management.