Procaps S.A.S. Said in Talks to Merge with SPAC Union Acquisition Corp. II (LATN)

March 16, 2021 9:44 AM EDT

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Union Acquisition Corp. II (NASDAQ: LATN) ticked a few cents higher early Tuesday following reports from Reuters that Colombian softgel maker Procaps S.A.S. is in talks to go public through a merger with the SPAC.

A deal would be valued at more than $1 billion, the report added.

Union Acquisition Corp. II is in talks with investors to raise a $100 million via a PIPE.

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