Lionheart Acquisition II, a blank check company formed by Lionheart Capital targeting a real estate technology company, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of one redeemable warrant, exercisable at $11.50.
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The company is led by CEO and Chairman Ophir Sternberg, the founder and CEO of sponsor Lionheart Capital. In March 2020, Sternberg became Chairman of 2018 SPAC IPO Opes Acquisition (OPES; +29% from $10 IPO price), which announced in June that it would acquire better burger chain BurgerFi; following the announcement, Lionheart changed its name from Lionheart Aquisition Corp. to Lionheart Acquisition Corp. II. The SPAC's CFO Paul Rapisarda serves as the CFO of Lionheart Capital and was previously the CFO of solar company Etrion Corp (TSX:ETX).
Lionheart Capital is a real estate investment and development firm with real estate assets totaling over $4 billion in the United States, Brazil and the Caribbean.
The Miami, FL-based company plans to list on the Nasdaq under the symbol LCAPU. Nomura Securities and Cantor Fitzgerald acted as lead managers on the deal.
