LDH Growth I, the second blank check company formed by SoftBank targeting technology-enabled sectors, raised $200 million by offering 20 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 may raise an additional $50 million at the closing of an acquisition pursuant to a forward purchase agreement with the sponsor.
The company is led by CEO and Chairman Marcelo Claure, the COO of SoftBank Group and former Executive Chairman (2018-2020) and CEO (2014-2018) of Sprint; President and Director Michel Combes, the President of SoftBank Group International and former CEO of Sprint (2018-2020); CFO Chris Cooper, the CFO of SoftBank Group International; Managing Partner Paulo Passoni, a Managing Partner of the SoftBank Latin America Fund; and Managing Partner Shu Nyatta, a Managing Partner of the SoftBank Opportunity Fund and the SoftBank Latin America Fund, and a founding member of the SoftBank Vision Fund and SoftBank's Silicon Valley investment team.
LDH Growth I plans to leverage its management team's experience to target a business in a technology-enabled sector, focusing on private, high-quality growth companies participating in the digital future of Latin American and Hispanic markets. Relevant sectors may include mobile communications technology, artificial intelligence, robotics, and cloud technologies, among others.
LDH Growth I plans to list on the Nasdaq under the symbol LDHAU. Citi and J.P. Morgan acted as lead managers on the deal.
