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.
