The PIPE investors remain unnamed for now, but this move would cover the combination’s $10 million minimum cash condition. That eliminates some uncertainty as Mercato approaches its September 28 combination vote.
The SPAC has about $45.9 million in its trust going into the vote after seeing 81.3% of its shares redeemed in a February extension.
The two sides announced their $312 million combination shortly after that extension vote. Sao-Paulo-based Nuvini is a leading acquirer of business software firms in Brazil, counting seven companies in its portfolio.