Itiquira Acquisition will Redeem and Shutter

Itiquira Acquisition plans to shut down and redeem shares effective Feb. 15.

The per-share redemption price will be approximately $10.17.

During the past two years, Itiquira said it met with over 85 potential targets, signed NDAs and exchanged information with 50 potential targets and ultimately sent 13 LOIs. However, satisfactory terms were not reached with any of the potential targets, the SPAC said in a press release. 

The SPAC was focused on businesses in in sectors with strong growth potential, with high correlation to Brazil growth, resilient business models, in non-cyclical industries, with favorable secular trends, including technology, healthcare, pharma, education and consumer services. Itiquira raised $230 million in na IPO two years ago. Read more.

Source: Itiquira Acquisition will Redeem and Shutter