Filing Overview
Registrant: Cartesian Growth Corporation, a Cayman Islands exempted company and special purpose acquisition company (SPAC). The supplied metadata identifies Alti Global, Inc., but the filing itself names Cartesian Growth Corporation.
Report date: February 26, 2021; filed March 4, 2021. The filing reports completion of the company’s initial public offering and related private placement.
Key Financial and Capital Markets Metrics
- Public offering: 34.5 million units sold at $10.00 per unit, generating $345.0 million of gross proceeds. The underwriters fully exercised their 4.5 million-unit overallotment option.
- Unit composition: Each unit included one Class A ordinary share and one-third of a warrant.
- Public warrants: Each whole warrant entitles the holder to purchase one Class A ordinary share at $11.50 per share, subject to adjustment.
- Private placement: 8.9 million warrants sold at $1.00 per warrant, generating $8.9 million of gross proceeds.
- Trust account: The filing states that $345.0 million of net proceeds from the offering and private placement was deposited into a trust account for public shareholders.
- Profit, revenue, operating cash flow, margins, debt and liquidity ratios: The filing text does not provide clear values for these metrics. It references an audited balance sheet as of February 26, 2021, filed as Exhibit 99.1.
Material Changes Versus the Prior Comparable Period
This filing does not present a prior-period income statement or operating comparison. The material event was the consummation of the IPO and private placement, resulting in the receipt of offering proceeds and establishment of the shareholder trust account.
Guidance, Outlook, Risks and Unusual Items
- No financial guidance or operating outlook is provided.
- The filing concerns a SPAC before the completion of a business combination; no target, transaction timetable or operating business is identified in the provided text.
- The public warrants have an $11.50 exercise price and are subject to adjustment. The filing text does not provide the detailed warrant terms, redemption provisions or potential dilution calculations.
- The amount placed in trust is stated as $345.0 million, although the offering and private placement generated combined gross proceeds of $353.9 million. The treatment of offering expenses and the precise reconciliation should be verified against Exhibit 99.1.
Investor Verification Items
- Review Exhibit 99.1 for the audited balance sheet, cash balances, liabilities, deferred costs and trust-account presentation.
- Reconcile the $345.0 million trust deposit with the $345.0 million public offering proceeds and $8.9 million private placement proceeds.
- Verify the complete terms, expiration, redemption provisions and anti-dilution adjustments for the public and private warrants.
- Confirm the registrant’s identity and whether the filing relates to Cartesian Growth Corporation or Alti Global, Inc.
- Review subsequent filings for the SPAC’s business-combination target, deadline and any changes to shareholder redemption or liquidity arrangements.