PX Energy to go public via a SPAC merger with Papaya Growth Opportunity in a $155m deal.

PX Energy, an operator of petroleum refining and recycling facility and mining operation in southern Brazil, is set to go public via a SPAC merger with Papaya Growth Opportunity Corp I, special purpose acquisition company, in a $155m deal. “We are extremely pleased to announce our business combination with PX, a profitable, integrated refined products manufacturer in Brazil. We formed Papaya to create value by bringing a successful company with a clear rationale for going public to the market. PX stood out as a compelling partner due to its strategic position in the Brazilian energy sector, strong financial performance, expansive mining concession, and clear opportunities for accretive growth. The PX team is deeply committed to operating safely, sustainably, and in a way that benefits the local and national communities it serves. We are excited to collaborate with Stan Bharti, Julian Bharti, Peter Tagliamonte, and the entire PX team as they continue to grow and deliver long-term value to shareholders,” Clay Whitehead, Papaya Growth Opportunity Corp. I CEO.