Lionheart III, the third blank check company formed by Lionheart Capital, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The Miami, FL-based company plans to raise $100 million by offering 10 million units at a price of $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, Lionheart III would command a fully diluted market value of $128 million.
The company is led by CEO and Chairman Ophir Sternberg, the founder and CEO of Lionheart Capital, and CFO Paul Rapisarda, the CFO of Lionheart Capital and former CFO of solar company Etrion Corp (TSX:ETX). The group's other SPACs include Lionheart IV (LHIVU) and Lionheart Acquisition II (LCAPU; +3% from $10 offer price). Lionheart III may pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector.
Lionheart III was founded in 2021 and plans to list on the Nasdaq under the symbol LHRTU. It filed confidentially on February 16, 2021. Nomura Securities is the sole bookrunner on the deal.
