Brazilian Semantix Debuted on Nasdaq Via SPAC with Alpha Capital

Shares closed on Friday pointing to a market cap of $504,3 million

Semantix, the Brazilian big data and AI firm, debuted on Nasdaq last Thursday (4) after a SPAC merger with Alpha Capital Acquisition Company (NASDAQ:ASPC). Shares of the company are trading under the ticker symbols STIX and STIXW.

Shares of Alpha Capital fell more than 31% after completion of the merger on August 2, 2022 while shares of Semantix fell slightly on Friday down 4,88%, closing at $6,35, which points to a company market cap of $504,3 million.

Founded in 2010 by Leonardo Santos, Semantix is Latin America’s first fully integrated data platform with an SaaS model – Software as a Service, which works with the distribution and commercialization of software. With solutions in Big Data, A.I., IoT, Quantum Computing, Integrations and APIs, Semantix aims at transforming companies to the data driven model, generating more value, intelligence and efficiency to their businesses.

Prior to Semantix debut on Nasdaq

Prior to Semantix debuting on Nasdaq, the company successfully attracted investments from heavyweight investors such as Inovabra (the investment vehicle of Banco Bradesco) , Crescera and Innova Capital. The company has more than 300 clients in 20 countries.

But it was at the end of 2021, when SPACs were the market darlings, that Semantix closed a deal with SPAC Alpha Capital Acquisition Company in an an implied equity value of about $1 billion.

The SPAC strategy for Semantix to debut on Nasdaq

A SPAC is a special purpose acquisition company created with the specific purpose of generally merging with a non-public company in order take it to the Stock Exchanges.

SPACs were the star of the show in 2020 and early 2021. They had quite a run from 2020 through the end of Q1 2021 – growing from a sum IPO count of 59 in 2019 to 248 in 2020, to 311 in just the first quarter of 2021, explains Silicon Valley lawyer and partner of Foley & Lardner LL.C in Palo Alto, Louis Lehot, in a quintessential article on SPACs written to Digital Connect Mag and titled The Future of SPACs.

In an intelligent move to close a SPAC deal in the right time of the market, Samantix follows in the foot steps of many Latin American tech startups positioning the company to soon become the region’s unicorn.

Beyond the Law.News was not informed of nor could it verify the name of the law firms and financial advisors representing or acting on behalf of the parties mentioned in this story. 

Semantix was contacted by the Beyond the Law.News prior to the release of this story to provide more information about the law firms and financial advisers who assisted the company. This story will be updated in case additional information is provided by the company.