Procaps Group went public via a SPAC merger with Union Acquisition II in a $1.1bn deal.

Procaps Group, a pharmaceutical company, went public via a SPAC merger with Union Acquisition II, a special purposes acquisition company, in a $1.1bn deal. “We are very pleased to have support from top-tier investors, and access to the US capital markets following the closing of this proposed transaction, which we believe will leave Procaps well-capitalized to provide our innovative pharmaceutical solutions to our global customers and drive our growth initiatives. Moreover, a key milestone was achieved in the transaction as it represents the first LatAm SPAC to have an over-subscribed PIPE in place from very sophisticated South American healthcare investors and US-based funds," Ruben Minski, Procaps Founder, Chairman and CEO.