Lakeshore Acquisition II closed its initial public offering of 6.9 million units, including the full exercise of the underwriter over-allotment option. Each unit consists of one share, one-half of a warrant and one right to receive one-tenth of a share.
Units trade on the Nasdaq under the ticker symbol LBBBU. After the securities begin separate trading, shares, warrants and rights are expected to list under the symbols LBBB, LBBBW and LBBBR, respectively.
Led by Chairman and CEO Bill Chen, the SPAC has not specified any particular sector to target, saying only in SEC filings that it would not do a deal with companies in China, Hong Kong or Macau.
Network 1 Financial Securities was sole book-running manager for the offering. Maxim was an underwriter and financial advisor. Read more.
