Valor Latitude Acquisition files for $200M IPO

Valor Latitude Acquisition Corp., a blank-check company formed by New York-based private equity firm Valor Capital Group, filed for an IPO of 20.0 million units at $10.00 apiece.

The offering comes with a 45-day overallotment option for the underwriters to acquire up to 3.0 million additional units.

Each unit comprises 1 class A ordinary share and 0.5 redeemable warrant, with each whole warrant exercisable at $11.50 per share.

The company's sponsor, Valor Latitude LLC, agreed to purchase a total of 6.0 million warrants for $1.00 per warrant in a private placement that will close simultaneously with the IPO closing.

The company plans to list on The Nasdaq Capital Market under the ticker symbol VLATU. Once the securities begin separate trading, the common stock and warrants are expected to be listed under the symbols VLAT and VLATW, respectively.

Valor Latitude Acquisition aims to target technology-enabled Latin American companies.

BofA Securities Inc. and Barclays Capital Inc. are the bookrunning managers for the offering.