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AgileThought To Go Public Through Merger With LIV Capital Acquisition Corp.; Transaction Values Co. At Pro Forma Enterprise Value Of $482M

  AgileThought is a leading pure play provider of agile-first software, end-to-end digital transformation and consulting services to Fortune 1000 customers with diversity across end-markets and industry

05/10/2021 08:14
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  • AgileThought is a leading pure play provider of agile-first software, end-to-end digital transformation and consulting services to Fortune 1000 customers with diversity across end-markets and industry verticals 
  • AgileThought delivers high-end software development at scale under a uniquely competitive onshore and nearshore business model that leverages talent from the U.S., Mexico and other Latin American countries to serve U.S. corporations
  • The business combination between AgileThought and LIV Capital Acquisition Corp. ("LIVK") (the "Transaction") values the combined company at a proforma enterprise value of approximately $482 million and is expected to provide approximately $124 million in primary gross proceeds to AgileThought, including $81 million of cash held in LIVK's trust account (assuming no redemptions in connection with the Transaction), and a fully committed $43 million investment by PIPE investors and LIV Capital at $10.00 per share. The fully committed investment will, at funding, satisfy the minimum cash requirement to close the Transaction
  • The Transaction will enhance AgileThought's position at the forefront of the more than $750 billion digital transformation services market in the U.S., offering one of a kind, agile software development capabilities with onshore and nearshore delivery
  • The Transaction is expected to close in the third quarter of 2021 subject to LIVK's shareholders approval and other customary conditions. Following the closing of the Transaction, the combined company will remain listed on Nasdaq under the new ticker symbol AGIL
  • AgileThought and LIVK will host a joint investor conference call to discuss the details of the proposed Transaction on May 10, 2021 at 11:00 AM EST. To access the conference call, please visit https://www.agilethought.com  or https://livcapitalspac.mx, or use dial-in 1-877-407-9039 (U.S.) or 1-201-689-8470 (International) and enter passcode 13719742.

    AgileThought, Inc. ("AgileThought" or the "Company"), a leading provider of digital transformation and consulting services solutions, and LIVK (NASDAQ:LIVK), a special purpose acquisition company, today announced that they have entered into a definitive business combination agreement. Upon the closing of this Transaction, the combined company will operate as AgileThought, Inc. and will remain listed on Nasdaq under the new ticker symbol "AGIL" with an anticipated market capitalization of approximately $491 million.

    "This announcement is another key milestone for AgileThought as we continue our mission to fundamentally change the way people, organizations and companies view, approach and deliver software projects to support their digital transformation initiatives," said Manuel Senderos, Chairman and Chief Executive Officer of AgileThought. "This Transaction will significantly strengthen AgileThought's balance sheet and provide us the ability to capture the substantial market opportunity for growth. I am delighted to partner with LIV Capital in AgileThought's new chapter. I would like to thank all those involved in making this Transaction a success, including (i) our existing institutional investors, Nexxus Capital, a leading alternative asset manager in Mexico, and Mexico Credit Opportunities Fund II, an investment vehicle managed by Credit Suisse Asset Management Mexico, who have contributed to the Company's growth; (ii) our new investors; and (iii) the entire AgileThought team."

    "We are excited to partner with Manuel, AgileThought's shareholders and the exceptional team at AgileThought. AgileThought perfectly embodies the platform and company we have sought to merge with our inaugural SPAC vehicle. LIV Capital has been backing successful company leaders with private equity for many years and we are proud to partner with AgileThought to make our first public market transaction. AgileThought is a great example of the synergistic opportunities that can achieved in the digital transformation sector between Mexico and the United States," said Alex Rossi, Chairman and Chief Executive Officer of LIVK. "We look forward to supporting AgileThought's growth strategy as a Nasdaq-listed public company."