Patria Latin American Opportunity Acquisition, a SPAC launched by Patria Investments, raised USD230m in an IPO on the Nasdaq to target a company operating in the healthcare, food and beverage, logistics, agribusiness, education or financial services sectors in Latin America.

(Davis Polk) Davis Polk advised Patria Latin American Opportunity Acquisition Corp. on its $230 million initial public offering of 23,000,000 units. Each unit had an initial offering price of $10.00 and consists of one Class A ordinary share and one-half of one redeemable warrant. The units, the shares and the warrants are listed on the Nasdaq Global Market.

The company is a newly incorporated special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company intends to seek a business combination in Latin America.