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STNE - Andina Acquisition Corp. III Rights And Warrants: Whether 3rd Time Will Be A Charm By October 31 2020
StoneCo Ltd.
Investment Thesis
Andina Acquisition Corp. III (ANDA) (ANDAW) is a LATAM focused SPAC that completed its IPO in January 2019 and originally set the business combination deadline for July 31, 2020. The company announced at the end of June that it has entered into a non-binding letter of intent with a prospective target and will hold a shareholder vote on July 29, 2020 to extend the deadline to October 31, 2020. Though there is still uncertainty, it is fair to say that the SPAC now has a well-defined catalyst of a potential deal