TRG Latin America Acquisitions Corp. reported an open-market purchase of 225,000 Class A ordinary shares at $10.00 per share on behalf of its sponsor, TRG Latin America Acquisitions LLC. Footnotes state that TRG Allocation LLC and Chief Executive Officer Nick S. Rohatyn control the managing member of the sponsor and therefore may be deemed beneficial owners of these securities, while each disclaims beneficial ownership except to the extent of any pecuniary interest.
TRG Latin America Acquisitions Corp. completed its initial public offering of 20,000,000 units at $10.00 per unit, raising gross proceeds of $200,000,000. Each unit includes one Class A ordinary share and one right to receive one-tenth of a Class A ordinary share after the initial business combination.
The company also sold 225,000 private placement units to its sponsor at $10.00 per unit. A total of $200,000,000, including up to $6,000,000 of deferred underwriting commissions, was placed in a U.S. trust account, with up to 24 months from the IPO closing to complete a business combination before shareholder redemptions are required.