Landcadia Holdings IV, the fourth blank check company formed by the CEOs of Landry's and Jefferies to acquire an entertainment business, filed on Friday with the SEC to raise up to $500 million in an initial public offering.
The Houston, TX-based company plans to raise $500 million by offering 50 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, Landcadia Holdings IV would command a market value of $625 million.
The company is led by CEO and Co-Chairman Tilman Fertitta, CEO of Fertitta Entertainment, which owns the NBA's Houston Rockets, restaurant conglomerate Landry's, and the Golden Nugget Casinos. Co-Chairman and President Richard Handler is currently the CEO of Jefferies. The company plans to target the consumer, dining, hospitality, entertainment, and gaming industries, including technology companies operating in these industries.
Fertitta and Handler's previous SPACs include Landcadia Holdings III (LCY), which went public in October 2020 and in January 2021 announced plans to acquire The Hillman Group, Landcadia Holdings II, which went public in May 2019 and acquired Fertitta's online casino business Golden Nugget Online Gaming (GNOG) in December 2020, and Landcadia Holdings, which went public in 2016 and acquired food delivery startup Waitr Holdings (Nasdaq: WTRH) in 2019.
Landcadia Holdings IV plans to list on the Nasdaq under the symbol LCAHU. Jefferies is the sole bookrunner on the deal.
