Lazard Growth Acquisition I priced its IPO of 50 million units at $10 each.
The units begin trading today on the Nasdaq under LGACU. Each consists of one Class A ordinary share and one-fifth of a redeemable warrant, with each whole warrant exercisable for one Class A ordinary share at $11.50 per share. Once the securities comprising the units begin separate trading, shares and warrants will list under LGAC and LGACW, respectively.
The offering is expected to close Feb. 12.
The new SPAC will target the growth-oriented subsectors of the healthcare, technology, energy transition, financial and consumer sectors.
This is the first SPAC sponsored by advisory and financial management firm Lazard, and is led by Executive Chairman Alexander Stern. Read more.
