Cartesian Growth IV closed a $275M SPAC IPO at $10/unit. Each unit contains one share and a one-third warrant. Ticker CGCFU. The blank-check company now has up to 24 months to find a target.
Cartesian Growth Corporation IV closed its initial public offering at $10 per unit, raising $275 million. The blank-check company listed 27.5 million units on Nasdaq under CGCFU. Each unit contains one Class A ordinary share and one-third of a redeemable warrant. A whole warrant lets the holder buy one share at $11.50.
Cantor Fitzgerald led the offering as sole book-running manager. The sponsor is an affiliate of Cartesian Capital Group, a global private equity firm focused on growth capital for transnational businesses. The company has not identified a target yet.
SPAC rules give the company up to 24 months to complete a merger or asset acquisition, with possible extensions. If no deal closes by the deadline, the trust must be returned to shareholders. Unit holders face a binary outcome: either a successful business combination or liquidation at roughly the trust value.
The warrant structure adds leverage. At $10 per unit, the embedded warrant is effectively near zero because the $11.50 strike sits 15% above the IPO price. If units separate and shares fall, warrants could expire worthless. If shares rise, each warrant provides three-to-one leverage relative to the unit. Traders buying units outright are long both the share and the optionality; those buying shares after separation take no warrant exposure.
The sponsor's track record is relevant. Cartesian Capital has run three prior SPACs: Cartesian Growth I, II, and III. The first two completed acquisitions. The third is still searching. Press materials did not specify a target sector for this fourth vehicle, only that it will seek established high-growth businesses that can benefit from "a constructive combination and continued value-creation."
A unit price near $10 implies the market sees low warrant value and limited deal risk. A discount would signal less confidence that a merger closes within the timeline. The units began trading June 26. The company has until June 2028 to complete an acquisition or face a vote on a deadline extension.
Prepared with AlphaScala research tooling and grounded in primary market data: live prices, fundamentals, SEC filings, hedge-fund holdings, and insider activity. Each story is checked against AlphaScala publishing rules before release. Educational coverage, not personalized advice.