Linklaters has exhorted Union Acquisition Corp. II (UAC II), a Specific Purpose Acquisition Company (SPAC) on its consent to collaborate with Crynssen Pharma Group Ltd (Procaps) to frame another holding organization Procaps Group, S.A., which will be recorded on Nasdaq under “PROC”.
Procaps is a main worldwide drug innovation and medical services organization situated in Latin America that has developed into a main pharma organization with a presence in 13 nations and reach in 50 business sectors with a wide arrangement of licenses and brand names.
The exchange infers a venture an incentive for the consolidated organization of around US$1.125 billion. Regarding the exchange, UAC II additionally finished a US$100 million private interest in open value (PIPE) offering. The money brought up in the PIPE, just as the returns from the 2019 IPO of UAC II, will be utilized by the organization to seek after development openings, including M&A.
The exchange is the principal Latin American SPAC to have an over-bought in PIPE. It is likewise one of only a handful few de-SPACs between a U.S.- recorded SPAC and a Latin American business. It is dependent upon endorsement by the UAC II investors and other standard shutting conditions and is required to close during the second from last quarter of 2021.
The Linklaters group was driven by accomplices Matthew Poulter, Jeffery Cohen, and Scott Sonnenblick close by senior partners Pierre-Emmanuel Perais and Burc Ozcelik, and guidance Matthew Brigham (Tax).
Linklaters offers industry-driving counsel in M&A and capital business sectors exchanges and is an objective for SPAC exchanges. UAC II is the second SPAC from support, Union Acquisition Group (UAG), which centers around high-development organizations with business or elements in Latin America. It is likewise the second business blend including UAG organizations that Linklaters has exhorted on, beforehand prompting Bioceres, in its underlying business mix with Union Acquisition Corp.
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