IPOs

Victory Park Capital's second SPAC L&F Acquisition files for a $200 million IPO

L&F Acquisition, the second blank check company formed by Victory Park Capital targeting the GRCL sectors, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.

The Chicago, IL-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, L&F Acquisition would command a market value of $250 million.

The company is led by Chairman Jeffrey Hammes, former Chairman of Kirkland & Ellis, where he joined in 1985 served as a Partner until his retirement in 2019. CEO and Director Adam Gerchen is co-founder and CEO of law firm Keller Lenkner. Victory Park Capital founder and CEO Richard Levy serves as a Director. The SPAC plans on targeting businesses in the governance, risk, and compliance, and legal technology and software ("GRCL") sectors.

Victory Park's previous SPAC, VPC Impact Acquisition Holdings (VIHAU), went public this past September and last closed down 1% from the $10 offer price.

L&F Acquisition was founded in 2020 and plans to list on the NYSE under the symbol LNFA.U. The company filed confidentially on September 9, 2020. Jefferies is the sole bookrunner on the deal.

The article Victory Park Capital's second SPAC L&F Acquisition files for a $200 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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