Globa Terra Acquisition Corp. hit the Nasdaq trading floor Wednesday, raising $152 million through its initial public offering, a bold entry into a resurging SPAC market. The Miami-based blank-check firm, represented by Paul Hastings LLP, is setting its sights on transformative deals in agribusiness and the water sector.
The offering priced at $10 per unit, totaling 15.2 million units, and now trades under the symbol GTERU. Freshfields US LLP represented underwriter D. Boral Capital LLC in the offering.
Targeting the Lifelines of Earth: Agriculture and Water
Led by CEO Agustin Tristan Aldave, also the chief of Lexington Capital, Globa Terra plans to leverage its team’s deep sector experience to find a compelling merger target. The firm has 15 months to close a deal or return the IPO funds to investors, per securities filings.
“Our management team has extensive experience in the agribusiness and water sectors, M&A, capital raising and investing capital,” Globa Terra told the U.S. Securities and Exchange Commission. “We believe the depth of our team’s expertise and relationships is a key competitive advantage.”
Aldave previously played a role in the 2023 SPAC merger between Bite Acquisition Co. and Above Food Corp, a plant-based foods retailer.
