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Papaya Growth Opportunity Corp. I Class A ( (PPYA) ) just unveiled an update.
On April 21, 2025, Papaya Growth Opportunity Corp. I and Forbes & Manhattan Resources Inc. announced a business combination agreement that will result in Papaya becoming a subsidiary of F&M. PX Energy, a vertically integrated refinery and mining operation in Brazil, will go public through this combination, with its shares listed on Nasdaq. The transaction, valued at approximately $155 million, is expected to close in late 2025, subject to regulatory and shareholder approvals. PX Energy’s strategic position in the Brazilian energy sector and its commitment to sustainability are highlighted as key factors in the decision to go public, with existing shareholders expected to hold over 53% of the combined company.
More about Papaya Growth Opportunity Corp. I Class A
PX Energy operates a vertically integrated petroleum refining, recycling facility, and mining operation in southern Brazil, specializing in the production of fuel oil, naphtha, LPG, fuel gas, sulfur, and fertilizer inputs. The company has been active since the 1990s and serves the Brazilian market with a focus on sustainability and innovation. PX Energy is recognized for its advanced pyrolysis process and commitment to energy efficiency and sustainable development.
YTD Price Performance: -0.58%
Average Trading Volume: 1,695
Technical Sentiment Signal: Strong Sell
Current Market Cap: $100.6M
Find detailed analytics on PPYA stock on TipRanks’ Stock Analysis page.