Shearman & Sterling represented J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as the initial purchasers in connection with the Rule 144A/Regulation S initial public offering of Promecap Acquisition Company, S.A.B. de C.V, a special purpose acquisition company (SPAC) focused on the analysis, evaluation, negotiation and closing of an acquisition of a privately or publicly held entity with business operations located, or with operations carried out, primarily in Mexico.
This was the second SPAC IPO in Mexico. The IPO raised gross proceeds of US$300 million and Promecap Acquisition Company units are now listed on the Bolsa de Mexico, the main stock exchange in Mexico.
The Shearman & Sterling team below was supported by associate Blanca Garcia (New York-Capital Markets).