SPAC two Files Proxy on $286M LatAm Logistic Properties Deal

Nevada-based two filed a proxy and called a March 25 meeting for shareholders to vote on a proposed merger with LatAm Logistic Properties. The is a developer, owner, and manager of institutional quality, class A industrial and real estate in Central and South America.

Terms call for LatAm Logistic to receive 28.6 million shares valued at $10 each. There is a minimum cash closing condition of $25 million, which assumes 70% redemptions by the SPAC's public shareholders.

The deal was announced in August at an enterprise value of $578 million.

If approved, the combined company's shares are expected to list on the under new ticker symbol LLP.

The SPAC raised $200 million in an almost three years ago. It's current market cap is just over $102 million. Read more.

Source: SPAC two Files Proxy on 6M LatAm Logistic Properties Deal