Live Oak Crestview Climate Acquisition, a blank check company formed by Live Oak Merchant Partners and Crestview, filed on Thursday with the SEC to raise up to $250 million in an initial public offering.
The Memphis, TN-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-fourth of a warrant, exercisable at $11.50. Anchor investor Atalaya Capital Management intends to purchase $25 million worth of units in the offering. At the proposed deal size, Live Oak Crestview Climate Acquisition would command a market value of $313 million.
The company is led by Chairman John Amboian, a senior advisor to Estancia Capital and an industry advisor to Madison Dearborn Partners, and CEO and Director Richard Hendrix, a co-founder and Managing Partner of Live Oak Merchant Partners and an operating executive at Crestview. The company plans to target the climate value chain, with a particular focus on opportunities aligned with energy transition and sustainability themes.
Live Oak Crestview Climate Acquisition was founded in 2021 and plans to list on the NYSE under the symbol LOCC.U. Jefferies and BofA Securities are the joint bookrunners on the deal.
