Item 1.01 Entry into a Material Definitive Agreement.
On January 27, 2022, LatAmGrowth SPAC (the "Company") consummated its initial
public offering (the "IPO") of 13,000,000 units (the "Units"). Each Unit
consists of one Class A ordinary share of the Company, par value $0.0001 per
share (an "Ordinary Share"), and one-half of one redeemable warrant of the
Company. Each whole warrant entitles the holder thereof to purchase one Ordinary
Share for $11.50 per share, subject to adjustment. The Units were sold at a
price of $10.00 per Unit, generating gross proceeds to the Company of
$130,000,000.
In connection with the IPO, the Company entered into the following agreements,
the forms of which were previously filed as exhibits to the Company registration
statement:
· An Underwriting Agreement, dated January 24, 2022, between the Company, BofA
Securities, Inc. and Banco BTG Pactual S.A. - Cayman Branch.
· A Warrant Agreement, dated January 24, 2022, between the Company and
Continental Stock Transfer & Trust Company, as warrant agent.
· A Letter Agreement, dated January 24, 2022, among the Company, the Sponsor and
the Company's officers and directors.
· An Investment Management Trust Agreement, dated January 24, 2022, between the
Company and Continental Stock Transfer & Trust Company, as trustee.
· A Registration Rights Agreement, dated January 24, 2022, among the Company, the
Sponsor and certain other security holders named therein.
· A Sponsor Warrants Purchase Agreement, dated January 24, 2022, between the
Company and the Sponsor.
· A Forward Purchase Agreement, dated January 24, 2022, between the Company and
SouthLight Capital LLC.
· An Indemnity Agreement, dated January 24, 2022, between the Company and Gerard
Cremoux.
· An Indemnity Agreement, dated January 24, 2022, between the Company and Gerardo
Mendoza.
· An Indemnity Agreement, dated January 24, 2022, between the Company and Eduardo
Cortina.
· An Indemnity Agreement, dated January 24, 2022, between the Company and Hector
Martinez.
· An Indemnity Agreement, dated January 24, 2022, between the Company and Miguel
Olea.
· An Indemnity Agreement, dated January 24, 2022, between the Company and Michael
J. McGuinness.
· An Indemnity Agreement, dated January 24, 2022, between the Company and Zain A.
Manekia.
· An Indemnity Agreement, dated January 24, 2022, between the Company and Carole
Philippe.
· An Indemnity Agreement, dated January 24, 2022, between the Company and Murray
Case.
· An Indemnity Agreement, dated January 24, 2022, between the Company and Juan
Manuel Ordoñez.
· An Indemnity Agreement, dated January 24, 2022, between the Company and Roberto
Rittes.
· An Indemnity Agreement, dated January 24, 2022, between the Company and Aron
Schwarzkopf.
· An Indemnity Agreement, dated January 24, 2022, between the Company and Julio
Serrano.
· An Indemnity Agreement, dated January 24, 2022, between the Company and Adam
Wiaktor.
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Item 3.02 Unregistered Sales of Equity Securities.
Substantially concurrently with the closing of the IPO, the Company completed
the private sale of 7,900,000 warrants (the "Private Placement Warrants") at a
purchase price of $1.00 per Private Placement Warrant, to the Company's sponsor,
LatAmGrowth Sponsor LLC (the "Sponsor"), generating gross proceeds to the
Company of $7,900,000. The Private Placement Warrants are identical to the
warrants sold as part of the Units in the IPO except that, so long as they are
held by the Sponsor or its permitted transferees: (1) they will not be
redeemable by the Company (except in certain redemption scenarios when the price
per Ordinary Share equals or exceeds $10.00 (as adjusted)); (2) they (including
the Ordinary Shares issuable upon exercise of these warrants) may not, subject
to certain limited exceptions, be transferred, assigned or sold by the Sponsor
until 30 days after the completion of the Company's initial business
combination; (3) they may be exercised by the holders on a cashless basis; and
(4) they (including the Ordinary Shares issuable upon exercise of these
warrants) are entitled to registration rights.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Effective as of January 24, 2022, (a) the following individuals were appointed
to the board of directors of the Company: Zain A. Manekia and Carole Philippe
and (b) the following individuals were appointed as Board Advisors: Murray Case,
Juan Manuel Ordoñez, Roberto Rittes, Aron Schwarzkopf, Julio Serrano and Adam
Wiaktor. Additional information regarding, among other things, each individual's
background, board committee membership and compensatory arrangements is
contained in the Registration Statement and is incorporated herein by reference.
Item 5.03 Amendments to Certificate of Incorporation or Bylaws; Change in Fiscal
Year.
On January 25, 2022, the Company filed its amended and restated memorandum and
articles of association with Registrar of Companies of The Cayman Islands. The
terms of the amended and restated memorandum and articles of association of
association are set forth in the Registration Statement and are incorporated
herein by reference. The foregoing description of the amended and restated
memorandum and articles of association is qualified in its entirety by reference
to the full text of the amended and restated memorandum and articles of
association, which is attached as Exhibit 3.1 hereto and is incorporated herein
by reference.
Item 8.01 Other Events.
A total of $132,600,000, comprised of proceeds from the IPO and the sale of the
Private Placement Warrants, was placed in a U.S.-based trust account maintained
by Continental Stock Transfer & Trust Company, acting as trustee. Except with
respect to interest earned on the funds held in the trust account that may be
released to the Company to pay its taxes, if any, the funds held in the trust
account will not be released from the trust account until the earliest to occur
of: (1) the completion of the Company's initial business combination; (2) the
redemption of any public shares properly submitted in connection with a
shareholder vote to amend the Company's amended and restated memorandum and
articles of association (A) to modify the substance or timing of the Company's
obligation to allow redemption in connection with its initial business
combination or to redeem 100% of its public shares if the Company does not
complete its initial business combination within 15 months from the closing of
the IPO (or up to 21 months, if the Company extends the time to complete a
business combination) or (B) with respect to any other provision relating to
shareholders' rights or pre-initial business combination activity; and (3) the
redemption of the Company's public shares if the Company has not completed its
initial business combination within the allotted time frame, subject to
applicable law.
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On January 24, 2022, the Company issued a press release, a copy of which is
attached as Exhibit 99.1 to this Current Report on Form 8-K, announcing the
pricing of the IPO.
On January 27, 2022, the Company issued a press release, a copy of which is
attached as Exhibit 99.2 to this Current Report on Form 8-K, announcing the
pricing of the IPO.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed with this Form 8-K:
Exhibit No. Description of Exhibits
1.1 Underwriting Agreement, dated January 24, 2022, between the
Company, BofA Securities, Inc. and Banco BTG Pactual S.A. - Cayman
Branch.
3.1 Amended and Restated Memorandum and Articles of Association of
the Company.
4.1 Warrant Agreement, dated January 24, 2022, between the Company
and Continental Stock Transfer & Trust Company, as warrant
agent.
10.1 Letter Agreement, dated January 24, 2022, among the Company, the
Sponsor and the Company's officers and directors.
10.2 Investment Management Trust Agreement, dated January 24, 2022,
between the Company and Continental Stock Transfer & Trust
Company, as trustee.
10.3 Registration Rights Agreement, dated January 24, 2022, among the
Company, the Sponsor and certain other security holders named
therein.
10.4 Sponsor Warrants Purchase Agreement, dated January 24, 2022,
between the Company and the Sponsor.
10.5 Forward Purchase Agreement, dated January 24, 2022, between the
Company and SouthLight Capital LLC.
10.6 Form of Indemnity Agreement, dated January 24, 2022, between the
Company and each officer and/or director.
99.1 Press Release, dated January 24, 2022.
99.2 Press Release, dated January 27, 2022.
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