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Gen Z Texas Oil Scion Raises $125 Million for Latin America SPAC

The young scion of a storied Texas oil dynasty and his fraternity brother have raised $125 million for a SPAC focused on Latin America. 

Rose Hill Acquisition Corp., started by 23-year-old Cornell alumni Albert G. Hill IV and Juan Jose Rosas, sold 12.5 million units at $10 apiece in its U.S. initial public offering, the blank-check firm said in a statement Wednesday. Each unit represents one common share and half a redeemable warrant.