Primavera Capital nets $360m from Spac IPO

By Jonathan Breen
22 Jan 2021

Primavera Capital Acquisition Corp, a so-called blank cheque company, has raised $360m from a larger-than-expected New York Stock Exchange IPO that has added further momentum to the increasingly hot asset class.

The special purpose acquisition company (Spac) is backed by Chinese private equity firm Primavera Capital Group. Spacs have no commercial operations, but are created for the sole purpose of raising money through an IPO, with the funds then used for an acquisition. Primavera is looking to acquire a global ...

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