Procaps Group, a leading integrated international healthcare and
pharmaceutical company, announced that in conjunction with Procaps
Group’s recent virtual analyst day and second quarter 2021 earnings
results, it has released two new videos showcasing its
Manufacturing and Research & Development facilities across
Latin America.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210823005193/en/
The videos take viewers behind the scenes of its facilities for
a look at production lines for their oral solutions and other
over-the-counter (OTC) and prescription drugs, nutritional
supplements and high-potency clinical solutions. Please click on
the links below to view the short videos.
The Future of Innovation in Pharmaceutical Oral Delivery Systems
examines the breadth and depth of the Procaps Group company and
products.
Innovation As a Differentiation in Technology, Products and
Culture discusses Procaps Group’s purpose, opportunities and
product developments, and its mission to create sustainable
pharmaceutical solutions.
Procaps Group recently hosted a virtual analyst day presentation
on Thursday, August 19, 2021, to provide an expected milestone
timeline for the upcoming business combination with Union
Acquisition Corp. II (NASDAQ: LATN). Ruben Minski, Chief Executive
Officer of Procaps Group, introduced senior management team members
including its recently appointed Global Chief Financial Officer,
Patricio Vargas, and provided an update on the company’s
pharmaceutical and nutraceutical solutions, medicines, and hospital
supplies, growth strategies, and strategic initiatives. Links to
the webcast of the presentation and its new corporate facility tour
videos are available on the Procaps Group investor relations
website here.
About the Proposed Business Combination with Union
Acquisition Corp. II
Completion of the business combination, which is expected to
close in the third quarter of 2021, is subject to approval by LATN
shareholders and other customary closing conditions, including the
registration statement filed on Form F-4 with the SEC June 2021 in
connection with Procaps Group’s proposed business combination with
Union Acquisition Corp. II (the “Registration Statement”) being
declared effective by the SEC. The combined company will be led by
Ruben Minski, Procaps Group Founder, Chairman & CEO. Upon
closing of the business combination (assuming none of the LATN
shareholders redeem any of their LATN ordinary shares in connection
with the approval of the business combination and including the
redemption of certain shares held by IFC), existing Procaps Group
shareholders are expected to hold approximately 76% of the combined
company, which shares will be subject to certain lock-up
arrangements.
Institutional investors have committed to an upsized private
investment in public equity (“PIPE”) of $100 million in ordinary
shares of LATN, which will be converted into ordinary shares of the
combined company upon the closing of the business combination. The
PIPE will close concurrently with the business combination. Subject
to any redemptions by LATN shareholders, there is approximately
$136.9 million in cash currently held in LATN’s trust account. It
is anticipated that the combined company will have approximately
$236.9 million in gross cash proceeds (before transaction-related
expenses and the redemption of certain shares held by IFC) to fund
organic growth through capacity expansion, plant improvements,
working capital investments, e-Health platform improvements and
R&D expenses, inorganic growth via accretive acquisitions and
the redemption of certain shares from IFC.
While the Registration Statement has not yet become effective
and the information contained therein is subject to change, it
provides important information about Procaps Group’s business and
operations, proposed business combination with Union Acquisition
Corp. II and the proposals to be considered by the LATN
shareholders.
Additional information about the transaction including the
Registration Statement on Form F-4 can be viewed here:
https://investor.procapsgroup.com.
About Procaps Group
Procaps Group is a developer of pharmaceutical and nutraceutical
solutions, medicines, and hospital supplies that reach more than 50
countries in all five continents. Procaps has a direct presence in
13 countries in Latin America and, as of December 31, 2020, had
more than 4,700 collaborators working under a sustainable model.
Procaps develops, manufactures, and markets over-the-counter (OTC)
and prescription drugs, nutritional supplements and high-potency
clinical solutions. For more information, visit
www.procapsgroup.com or Procaps Group’s investor relations website
investor.procapsgroup.com, which will also contain a link to the
Registration Statement. The Registration Statement includes audited
consolidated financial statements of Procaps Group as of and for
the fiscal years ended December 31, 2020 and 2019.
About Union Acquisition Corp. II.
Union Acquisition Corp. II, led by Kyle Bransfield, is a Cayman
Islands exempted company incorporated as a blank check company for
the purpose of entering into a merger, share exchange, asset
acquisition, share purchase, recapitalization, reorganization or
other similar business combination with one or more businesses or
entities. For more information, please click here.
Important Information About the Merger and Where to Find
It
In connection with the proposed business combination, Procaps
Group, S.A. (“Holdco”), a subsidiary of Crynssen Pharma Group
Limited (“Procaps Group”) that will become the holding company of
LATN and Procaps Group as of the closing of the proposed business
combination, filed a Registration Statement on Form F-4 (the “Form
F-4”) with the U.S. Securities and Exchange Commission (the “SEC”)
that includes a proxy statement of LATN that also constitutes a
prospectus of Holdco. LATN, Procaps Group and Holdco urge
investors, stockholders and other interested persons to read the
Form F-4, including the preliminary proxy statement/prospectus and
amendments thereto and the definitive proxy statement/prospectus
and documents incorporated by reference therein, as well as other
documents filed with the SEC in connection with the proposed
transaction, as these materials will contain important information
about Procaps Group, Holdco, LATN and the proposed business
combination transaction. After the Registration Statement is
declared effective, the definitive proxy statement/prospectus
included in the Registration Statement will be mailed to
shareholders of LATN as of a record date to be established for
voting on the proposed business combination. Once available,
shareholders will also be able to obtain a copy of the Form F-4,
including the proxy statement/prospectus, and other documents filed
with the SEC without charge, by directing a request to: BTG Pactual
US Capital, LLC, Attention: Prospectus Department, Email:
OL-BTGPactual-ProspectusDepartment@btgpactual.com. The preliminary
and definitive proxy statement/prospectus included in the
registration statement, once available, can also be obtained,
without charge, at the SEC’s website (www.sec.gov).
Participants in the Solicitation
LATN and Procaps Group and their respective directors and
executive officers may be considered participants in the
solicitation of proxies with respect to the proposed business
combination described in this press release under the rules of the
SEC. Information about the directors and executive officers of LATN
is set forth in LATN’s final prospectus filed with the SEC pursuant
to Rule 424(b) of the Securities Act of 1933, as amended (the
“Securities Act”) on October 17, 2019, and is available free of
charge at the SEC’s website at www.sec.gov or by directing a
request to: Union Acquisition Corp. II, 1425 Brickell Ave., #57B,
Miami, FL 33131. Information regarding the persons who may, under
the rules of the SEC, be deemed participants in the solicitation of
the LATN shareholders in connection with the proposed business
combination will be set forth in the Registration Statement filed
with the SEC. These documents can be obtained free of charge from
the sources indicated above.
Forward-Looking Statements
This press release contains “forward-looking statements.”
Forward looking statements may be identified by the use of words
such as “forecast,” “intend,” “seek,” “target,” “anticipate,”
“believe,” “expect,” “estimate,” “plan,” “outlook,” and “project”
and other similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
Such forward-looking statements include the expected gross cash
proceeds from the Procaps Group business combination and its
effects on expansion; expectations relating to capacity expansion,
plant improvements, working capital investments, e-health platform
and R&D expenses; the closing of the business combination
transaction; and expectations relating to Procaps Group’s ability
to invest in growth through organic and inorganic growth. Such
forward-looking statements with respect to the businesses of LATN,
Procaps Group, or Holdco, prior to or following the completion of
any proposed business combination, are based on current
expectations that are subject to risks and uncertainties. A number
of factors could cause actual results or outcomes to differ
materially from those indicated by such forward-looking statements.
These statements involve risks, uncertainties and other factors
that may cause actual results, levels of activity, performance or
achievements to be materially different from the information
expressed or implied by these forward-looking statements. Although
we believe that we have a reasonable basis for each forward-looking
statement contained in this press release, we caution you that
these statements are based on a combination of facts and factors
currently known by us and our projections of the future, about
which we cannot be certain. Forward-looking statements in this
press release include, but are not limited to: (1) the inability to
complete the transactions contemplated by the proposed business
combination; (2) the inability to recognize the anticipated
benefits of the proposed business combination, which may be
affected by, among other things, competition, and the ability of
the combined business to grow and manage growth profitably; (3) the
inability to successfully retain or recruit officers, key
employees, or directors following the proposed business
combination; (4) effects on LATN’s public securities’ liquidity and
trading; (5) the market’s reaction to the proposed business
combination; (6) the lack of a market for LATN’s securities; (7)
LATN’s and Procaps Group’s financial performance following the
proposed business combination; (8) costs related to the proposed
business combination; (9) changes in applicable laws or
regulations; (10) the possibility that LATN or Procaps Group may be
adversely affected by other economic, business, and/or competitive
factors; and (11) other risks and uncertainties indicated from time
to time in documents filed or to be filed with the SEC by LATN. We
cannot assure you that the forward-looking statements in this press
release will prove to be accurate. These forward-looking statements
are subject to a number of significant risks and uncertainties that
could cause actual results to differ materially from expected
results, including, among others, the ability to complete the
business combination due to the failure to obtain approval from
LATN shareholders or satisfy other closing conditions in the
business combination agreement, the occurrence of any event that
could give rise to the termination of the business combination
agreement, the ability to recognize the anticipated benefits of the
business combination, the outcome of any legal proceedings that may
be instituted against LATN or Procaps Group following announcement
of the proposed business combination and related transactions, the
impact of COVID-19 on Procaps Group’s business and/or the ability
of the parties to complete the business combination, the ability to
obtain or maintain the listing LATN’s ordinary shares on Nasdaq
following the proposed business combination, costs related to the
proposed business combination, changes in applicable laws or
regulations, the possibility that LATN or Procaps Group may be
adversely affected by other economic, business, and/or competitive
factors, and other risks and uncertainties, including those to be
included under the header “Risk Factors” in the Form F-4 to be
filed with the SEC and those included under the header “Risk
Factors” in the final prospectus of LATN related to its initial
public offering, as well as LATN’s other filings with the SEC.
Should one or more of these risks or uncertainties materialize, or
should any of our assumptions prove incorrect, actual results may
vary in material respects from those projected in these
forward-looking statements. We undertake no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
under applicable securities laws. Accordingly, you should not put
undue reliance on these statements.
Non-Solicitation
This press release is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the proposed business combination and shall not
constitute an offer to sell or a solicitation of an offer to buy
any securities nor shall there be any sale of securities in any
state or jurisdiction in which such offer, solicitation, or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. No offer of
securities shall be made except by means of a prospectus meeting
the requirements of the Securities Act.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210823005193/en/
Procaps Group Investor Contact: Chris Tyson/Doug Hobbs
SPAC Alpha IR+ (949) 491-8235 LATN@mzgroup.us
LATN Contact: Kyle P. Bransfield Chief Executive Officer
Union Acquisition Corp. II (305) 306-2522
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