SPAC Lakeshore Acquisition II Prices US$60 Million IPO

Special purpose acquisition company Lakeshore Acquisition II Corp. (Nasdaq: LBBBU) started trading publicly on the Nasdaq Global Market today. The company is seeking to raise US$60 million in its initial public offering.

The offering consists of 6.0 million company units priced at US$10.00 per unit. Each unit is composed of one common share, one-half of a purchase warrant, and one-tenth of a right. Each whole warrant is redeemable for one common share at US$11.50 per share while each whole right equates to one common share.

The company units trade on the Nasdaq big board under the symbol “LBBBU”. Once the securities separate, the company shares, warrants, and rights will trade under the ticker symbols “LBBB”, “LBBBW”, and “LBBBR”, respectively.

The proposed offering is being managed by Network 1 Financial Securities as the sole bookrunner. The underwriters were granted a 45-day over-allotment option to purchase additional 0.9 million company units at the same IPO price.

The blank check company did not outline any specific inclination for its search of business combinations. Lakeshore Acquisition I Corp.(Nasdaq: LAAA) completed its IPO in June 2021, raising a total of US$54.7 million in proceeds.


Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

What Happens If Silver Finally Breaks $50? | Gary Thompson – Silver47

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

Squarepace: The IPO Deep Dive

If you’re a business looking to have an online presence, you might have tried creating...

Tuesday, May 18, 2021, 01:30:00 PM

Tech SPAC Yotta Acquisition Prices US$100 Million IPO

Special purpose acquisition company Yotta Acquisition Corporation (Nasdaq: YOTAU) started trading its securities on the...

Wednesday, April 20, 2022, 02:23:00 PM

NET Power Looks To Change Trend Of Failing SPACs With Novel Power Tech

Companies which have emerged from SPAC merger transactions have at best a spotty record of...

Sunday, May 21, 2023, 09:00:00 AM

Consumer Goods SPAC Conyers Park III Acquisition Seeks To Raise US$350 Million In IPO

Special purpose acquisition company Conyers Park III Acquisition Corp. (Nasdaq: CPAAU) went public on Nasdaq...

Tuesday, August 10, 2021, 02:12:00 PM

Crypto Firm Argo Blockchain Prices US$112.5 Million IPO

Cryptocurrency mining company Argo Blockchain Plc (Nasdaq: ARBK) started trading on the Nasdaq Global Select...

Thursday, September 23, 2021, 03:48:00 PM