HCM Acquisition Corp (NASDAQ: HCMA), a publicly-traded blank cheque company, and Murano PV, S.A. DE C.V., a Mexico-based development company have announced an agreement for a business combination that will result in Murano becoming a public company. The transaction values Murano at a pro forma enterprise value of ~USD 810 million (EUR 755 million), assuming a value of USD 10 per share and approximately 85% redemptions.

Murano develops properties in North and Central America. Murano boasts a portfolio and range of completed projects that include marinas, hotels, condominiums, and apartment complexes.