Live Oak Acquisition, a blank check company targeting a high-growth business with strong cash flow, filed on Monday with the SEC to raise up to $200 million in an initial public offering.
The Great Falls, VA-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 one warrant exercisable at $11.50. Insider Atalaya Capital Management intends to purchase up to $15 million worth of units in the offering. At $10 per unit, Live Oak Acquisition would command a market value of $250 million.
Live Oak Acquisition was founded in 2019 and plans to list on the NYSE under the symbol LOAK.U. Live Oak Acquisition filed confidentially on January 24, 2020. Jefferies is the sole bookrunner on the deal.
