TRG Latin America Acquisitions Corp. completed the pricing for its initial public offering by setting the unit price at $10.00 and offering 20 million units, generating total gross proceeds of $200 million. The newly issued units commenced trading on the Nasdaq Stock Exchange on February 26, 2026.
Each unit issued in the offering comprises one Class A ordinary share alongside one right that will entitle the holder to receive one-tenth of a Class A ordinary share, contingent on the closing of an initial business combination. The Class A ordinary shares and the separate rights are expected to begin trading independently within 52 days after the offering, under the ticker symbols "TRGS" for the Class A ordinary shares and "TRGSR" for the rights.
Santander acted as the sole book-running manager for the transaction. In connection with the offering, the company granted the underwriter a 45-day option to purchase up to an additional 3 million units at the offering price to cover any over-allotments.
The offering is expected to close on February 27, 2026, subject to customary closing conditions. A registration statement relating to the securities became effective on February 25, 2026.
TRG Latin America Acquisitions Corp. is organized as a blank check company incorporated in the Cayman Islands. The company's stated purpose is to pursue a merger, acquisition, or similar business combination with one or more businesses. Management has expressed an intention to focus its search on identifying target businesses that could benefit from the expertise of the company's management team.
Nicolas S. Rohatyn serves as Chief Executive Officer and Chairman, and Miguel A. Gutierrez is the Chief Financial Officer. Both Rohatyn and Gutierrez are co-founders and partners at The Rohatyn Group. Miguel Kiguel, Daniel Gerold, and Thomas Wolf are designated to serve as members of the company's board.
Market and structure details
The structure of the securities means holders of the units receive immediate exposure to a Class A ordinary share plus a contract right that only converts to equity on a fractional basis after an initial business combination is completed. The separate listing of shares and rights within 52 days will allow investors to trade the components individually after that period.
Santander's role as sole book-runner and the 45-day option to cover over-allotments are standard elements of this type of offering. The potential exercise of that option could expand the public float by up to 3 million units if exercised in full at the offering price.
Closing conditions and timing
The offering's expected close date is February 27, 2026, but the finalization is conditioned on customary closing requirements. Investors and market participants will therefore be subject to standard settlement and regulatory completion steps before the proceeds are formally delivered.
The registration statement for the securities became effective on February 25, 2026, enabling the company to proceed with the sale and listing of its units on Nasdaq.