LF Capital ALSO Pricing Tonight: $135 Million SPAC
by Kristi Marvin on 2018-06-19 at 5:12pm

It’s SPAC Week. Anybody Else Want to Price??

Well, it looks like LF Capital Acquisition Corp., a $135 million Fintech-focused SPAC, is pricing Tuesday evening as well.  LF Capital filed their CERT shortly after Twelve Seas, so we’ve got ourselves a double dose of SPACs.

LF Capital recently brought on BlackRock Funds as a Sponsor/Anchor Investor and increased their per share amount in trust to 102%, or $10.20 per unit.

It should be interesting to see how both Twelve Seas and LF Capital shake out in the morning.  Both are roughly the same size ($150 million for Twelve Seas and $135 million for LF Capital), but have different sector focuses and different amounts in trust (100% vs. 102%).  Will one or both of them upsize?  Stay tuned…

Summary of Terms:
  • Total Public Proceeds: $135 million
  • Focus:  Fintech
  • $10.00 unit comprised of one share of Class A common Stock and one full warrant
  • Warrant redemption threshold: equals or exceeds $18.00 (cash or cashless exercise)
  • 102% held in trust ($10.00 per share)
  • Limitation on redemption rights:   a shareholder can redeem no more than 20% of the shares sold in the offering.
  • 24 months to complete an acquisition 
  • Underwriters: B. Riley FBR and Raymond James as co-bookrunners

 

 

 

LF Capital ALSO Pricing Tonight: $135 Million SPAC
Recent Posts
by Nicholas Alan Clayton on 2025-07-03 at 12:54pm

Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...

by Nicholas Alan Clayton on 2025-07-03 at 8:27am

At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...

by Nicholas Alan Clayton on 2025-07-02 at 12:13pm

McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...

by Nicholas Alan Clayton on 2025-07-02 at 8:29am

At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....

by Nicholas Alan Clayton on 2025-07-02 at 6:28am

EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved