Lefteris Acquisition Corp. announced the pricing of its downsized $200 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “LFTRU” tomorrow, Wednesday, October 21.
The new company aims to combine with a fintech company valued at between $600 million and $1.3 billion with artificial intelligence and other process automation features. Lefteris is led by Chairman Mark Casady, CEO and Director Karl Roessner and CFO and Chief Corporate Development Officer Jon Isaacson.
Total SPAC deal count for 2020 year-to-date is now 149 with $56.47 billion in gross proceeds raised. This offering is expected to close on Friday, October 23.
Morgan Stanley & Co. LLC is acting as book-running manager. Ropes & Gray LLP is serving as Issuer’s Counsel with Sidley Austin LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.
Terms Tracker for the Week Ending April 12, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. The month of April is still feeling pretty sleepy, but there’s reason to believe that will change relatively soon with some notable events lined up...
The SPAC boom of 2020-2021 brought the asset class into sectors they had never entered before and that had generated few if any public companies of any kind. Space was one of these, but it appeared to be a passing fascination as soon as macro financial winds changed. That could be about to change once...
At the SPAC of Dawn As portions of the market rallied suddenly yesterday from Wednesday’s inflation gloom, LiveWire (NYSE:LVWR) was among the surprising gainers. The manufacturer of electric motorcycles that spun out from Harley Davidson in a 2022 SPAC deal with AEA-Bridges has never been among the flashiest EV de-SPACs, but it has quietly provided...
SPACs have brought a number of sustainability companies to market, but the economics of carbon credits have always been on the edge of those specific opportunities. Focus Impact Acquisition Corp. (NASDAQ:FIAC) aims to change that with its $213 million combination with DevvStream, a Canadian company focused on generating carbon credits with proprietary technology-based approaches. This week, we...
At the SPAC of Dawn Yesterday’s high CPI readings may have dampened hopes of summer rate cuts, but the public markets do seem increasingly content to shoot towards the cosmos in terms of the new types of companies they hope to welcome. SPACs have been a major part of commercial space ventures accessing public capital,...