Mercato Partners Acquisition Adds $11.1M PIPE to Nuvini Deal

Mercato Partners Acquisition in an 8-K today said it secured subscription agreements for a totalling $11.1 million, based on a price of $10 a share. Funds will be used to support the SPAC proposed merger with Nuvini.

A vote on the deal is set for Thursday, Sept. 28.

Founded in in São Paulo, , in 2020 by entrepreneur and investor Pierre Schurmann, Nuvini is a private serial software business acquirer focused on .

The deal has a combined enterprise value of $312 million, Mercato announced in February. At that time, the estimated pro forma enterprise value included an anticipated $23 million in cash net of Nuvini debt at the time of closing, assuming no further redemptions by Mercato's existing stockholders.

Mercato raised $200 million in a November 2021 , although redemptions since then have taken a bite out of the trust. The SPAC's market cap on the now stands at just over $108 million. Read more.

Source: Mercato Partners Acquisition Adds .1M PIPE to Nuvini Deal