LAMF Global Ventures I, a blank check company formed by Los Angeles Media Fund targeting media, entertainment, and sports, raised $220 million by offering 22 million units at $10. The company offered 2 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by Chairman Jeffrey Soros and CEO and Director Simon Horsman, the co-founders and Co-CEOs of Los Angeles Media Fund (LAMF), a multifaceted media and entertainment company whose primary business is investing in and producing feature films, television series, and documentary projects as well as live events. LAMF Global Ventures I plans to leverage management's experience and target opportunities in media, entertainment, and sports, as well as within e-commerce and technology.
LAMF Global Ventures I plans to list on the Nasdaq under the symbol LGVCU. Wells Fargo Securities acted as sole bookrunner on the deal.
