Lead Edge Growth Opportunities, a blank check company formed by Lead Edge Capital targeting software, internet, and tech-enabled businesses, filed on Wednesday with the SEC to raise up to $300 million in an initial public offering.
The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. The company may raise an additional $50 million at the closing of an acquisition pursuant to a forward purchase agreement with Lead Edge Capital. At the proposed deal size, Lead Edge Growth Opportunities would command a market value of $375 million.
The company is led by CEO and Chairman Mitchell Green, the founder and a General Partner of growth equity firm Lead Edge Capital. He is joined by CFO and President Nimay Mehta, a General Partner at Lead Edge, and COO Brian Neider, who is currently a member of the Investment Committee for all Lead Edge funds. The company plans to target high-quality software, internet, and technology-enabled businesses.
Lead Edge Growth Opportunities was founded in 2020 and plans to list on the Nasdaq under the symbol LEGAU. The company filed confidentially on January 15, 2021. Credit Suisse and J.P. Morgan are the joint bookrunners on the deal.
