L Catterton Asia Acquisition Corp. (the “Company”) today announced that it had priced its initial public offering of 25,000,000 units at a price of $10.00 per unit. The units will be listed on the Nasdaq Capital Market (“Nasdaq”) under the symbol “LCAAU” and are expected to begin trading on Nasdaq on March 11, 2021.
Subscribe to our Telegram channel to get a daily dose of business and lifestyle news from NHA – News Hub Asia!
Each unit consists of one share of the Company’s Class A common stock and one-third of one redeemable warrant. Each whole warrant entitling the holder thereof to purchase one share of the Company’s Class A common stock at a price of $11.50 per share, subject to adjustment, terms and limitations, and only whole warrants are exercisable. Once the securities constituting the units begin separate trading, the Class A common stock and the warrants are expected to be listed on Nasdaq under the symbols “LCAA” and “LCAAW,” respectively.
The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.
The offering is expected to close on March 15, 2021, subject to customary closing conditions. Credit Suisse Securities (USA) LLC is acting as the sole book-running manager of the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 3,750,000 units at the initial public offering price to cover over-allotments, if any.
The public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, Telephone: 1-800-221-1037, Email: usa.prospectus@credit-suisse.
A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on March 10, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Source : L Catterton
