Alpha Capital’s SPAC Closes $230 Million IPO on Nasdaq

Nachrichtenquelle: Business Wire (engl.)
23.02.2021, 17:12  |  101   |   |   

Alpha Capital announced today that it has closed its $230 million initial public offering on the Nasdaq Capital Market (“Nasdaq”), trading under the ticker symbol “ASPCU”. The special purpose acquisition company (“SPAC”) will use the funds to seek a business combination with a Latin American-focused technology company. Alpha announced pricing last Thursday.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210223005852/en/

Alpha Capital's founders and sponsors (left to right) Rafael Steinhauser, President and Director, and Alec Oxenford, CEO and Chairman. (Photo: Business Wire)

Alpha Capital's founders and sponsors (left to right) Rafael Steinhauser, President and Director, and Alec Oxenford, CEO and Chairman. (Photo: Business Wire)

There are over 20,000 technology companies in that region according to Crunchbase. While they have generally been funded by a growing local network of early-stage investors, later-stage capital has been far less available in Latin America, which has limited growth opportunities. Alpha aims to solve that dilemma by creating new access to late-stage, cost-efficient capital.

Alpha’s founders and sponsors are Alec Oxenford, Chief Executive Officer and Chairman, and Rafael Steinhauser, President and Director. Both were born in Argentina and are based in Brazil. Oxenford is a well-known serial internet entrepreneur and investor in Latin America with over 20 years of experience building, growing and operating technology companies around the world. Most recently, he co-founded and was CEO of letgo, an online secondhand marketplace in the U.S. and Turkey, which grew to over 100 million mobile downloads before merging its U.S. operations with competitor OfferUp last year. He also co-founded and was CEO of OLX, which became the largest online marketplace of its kind in Brazil and other emerging markets. Both letgo and OLX were “unicorn” startups, with valuations above $1 billion. Oxenford previously co-founded online payment platform DineroMail and online auction platform DeRemate.com in Latin America.

Steinhauser has led Latin American operations for some of the largest technology, media and telecom companies there, with over 35 years of senior corporate experience in the industry globally. He served as President of Qualcomm Latin America from 2011 to 2020, contributing to Brazil’s digital inclusion and the commercial launch of the first worldwide SiP-based smartphone in Brazil. He also led the effort to create Qualcomm Ventures in the region, one of the largest corporate venture capital investors there, which has already participated in several “unicorn” startups. Steinhauser was previously President at Nortel Networks and Cisco Systems in the region.

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Alpha Capital’s SPAC Closes $230 Million IPO on Nasdaq Alpha Capital announced today that it has closed its $230 million initial public offering on the Nasdaq Capital Market (“Nasdaq”), trading under the ticker symbol “ASPCU”. The special purpose acquisition company (“SPAC”) will use the funds to seek a …

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