Live Oak Crestview Climate Acquisition Corp. (LOCC.U) Prices 20M Unit IPO at $10/unit

September 23, 2021 6:00 AM EDT
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Live Oak Crestview Climate Acquisition Corp. (NYSE: LOCC.U), a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, announced today that it priced its initial public offering of 20,000,000 units at $10.00 per unit. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on companies in the climate and sustainability spaces which facilitate the Circular Economy, progress via the energy transition away from fossil fuels, enhance food chain continuity, recycling and alternative sourcing, as well as mitigate greenhouse gases and reduce plastic waste in the environment. The Company is led by Chief Executive Officer, Richard J. Hendrix, Chief Financial Officer, President and Secretary Gary K. Wunderlich, Jr., Chief Operating Officer, Adam J. Fishman, Board member, Adam Klein and Chairman of the Board, John P. Amboian.

The units will be listed on the New York Stock Exchange (the "NYSE") and will begin trading tomorrow, September 23, 2021, under the ticker symbol "LOCC.U." Each unit consists of one share of the Company's Class A common stock and one-third of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the NYSE under the symbols "LOCC" and "LOCC WS," respectively.

The offering is expected to close on September 27, 2021, subject to customary closing conditions.

Jefferies LLC and BofA Securities are acting as the book-running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus, when available, may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at 877-821-7388 or by email at Prospectus_Department@Jefferies.com or BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001 or by email at: dg.prospectus_request@bofa.com.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission ("SEC") on September 22, 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.



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