Lazard Growth Acquisition I, a blank check company formed by Lazard targeting growth-oriented subsectors, raised $500 million by offering 50 million units at $10. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50.
The company is led by Executive Chairman Alexander Stern, who currently serves as President of Lazard Ltd (NYSE: LAZ) and Lazard Group, as well as a Managing Director of Lazard; CEO and Director Eyal Ofir, who is a Managing Director in Lazard's Financial Institutions Group; and CFO and Director Mary Ann Deignan, who is a Managing Director and Co-Head of Capital Markets Advisory at Lazard. The company plans to target growth-oriented subsectors of the healthcare, technology, energy transition, financial, and consumer sectors.
Lazard Growth Acquisition I plans to list on the Nasdaq under the symbol LGACU. Goldman Sachs acted as a lead manager on the deal.
