Latin America-Focused SPAC Leads 2 IPOs Totaling $230M

By Tom Zanki (January 25, 2022, 3:02 PM EST) -- Two special-purpose acquisition companies, one targeting high-growth businesses in Latin America and another targeting technology startups globally, began trading Tuesday after raising a combined $230 million, under guidance from four law firms.

LatAmGrowth SPAC, advised by Shearman & Sterling LLP, raised $130 million after selling 13 million units at $10 each, while Keyarch Acquisition Corp., advised by Orrick Herrington & Sutcliffe LLP, raised $100 million after selling 10 million units at $10 each.

Davis Polk & Wardwell LLP is advising LatAmGrowth's underwriters while Graubard Miller is advising Keyarch's underwriters.

SPACs, also called blank-check companies, are shells that raise money in initial...

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