register now for free unlimited access to reuterscom register sept 15 reuters  brazils lavoro ltd said on thursday it would go public in the united states through a merger with special purpose acquisition company tpb acquisition corp i tpbao in a deal that values the agricultural products retailer at 12 billion the deal is expected to rake in 225 million of cash proceeds for lavoro including a 100 million private placement from the spacs backer the production board sao paulobased lavoro said lavoro founded in 2017 offers seeds fertilizers and crop protection products among others the company said it expects to record 23 billion of revenue in 2022 up 63 from last year the new capital would be used for retail expansion acquisitions and to introduce new products lavoro added a spac is a publicly listed shell company that raises funds with the intention of merging with a private company within two years of floating its shares the private firm goes public through the merger the spac sector has been torpedoed by several scrapped deals this year as market turbulence due to inflation and rising interest rates spook startups looking to go public reporting by niket nishant in bengaluru editing by savio dsouza and shounak dasgupta