L Catterton Asia Acquisition, a blank check company led by L Catterton Asia executives targeting consumer technology, filed on Monday with the SEC to raise up to $250 million in an initial public offering.
The Singapore-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, L Catterton Asia Acquisition would command a market value of $313 million.
The company is led by Co-CEOs and Directors Chinta Bhagat and Scott Chen, who both serve as Managing Partners at L Catterton Asia, as well as CEO and CIO, respectively. The company plans to target high-growth, consumer technology sectors across Asia.
L Catterton Asia Acquisition was founded in 2021 and plans to list on the Nasdaq. It has not selected a symbol yet (RC ticker: LCAAU.RC). The company filed confidentially on January 21, 2021. Credit Suisse is the sole bookrunner on the deal.
