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Pacifico Acquisition Corp. Reports SPAC Merger Deal With Caravelle Group In Pro Forma Enterprise Value Deal ~$527M

Benzinga Real-time News ·  Apr 6, 2022 09:06
  • Caravelle Group Co., Ltd ("Caravelle") is an ocean technology company providing international shipping services and carbon-neutral solutions for wood desiccation.
  • Caravelle has developed and commercialized its CO-Tech solution, a novel approach toward shipping time, space, and the repurposing of engine heat and biproducts to reduce carbon emissions.
  • The business combination of Caravelle and Pacifico Acquisition Corp. ("Pacifico") has a pro forma enterprise value of approximately $527 million.
  • Transaction expected to provide approximately $100 million of cash proceeds, including an anticipated $60 million PIPE and up to $58 million of cash held in the trust account of Pacifico assuming no redemptions by Pacifico...
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