Lionheart IV is withdrawing a 25 million-unit offering initially registered in March 2021, according to a letter delivered to the SEC.
Lionheart IV had said it would “pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector.”
The SPAC is led by Chairman, President and CEO Ophir Sternberg, CEO of Miami-based Lionheart Capital, which he founded in 2010.
His Lionheart II SPAC last month closed a deal with MSP Recovery, which pursues Medicare, Medicaid, commercial, and secondary payer reimbursements. Within days of listing on the Nasdaq, MSP had lost 85% of its value. The MSP deal was initially valued at $32.6 billion, making it one of the all-time largest SPAC transactions.
Lionheart IV had applied for a listing on the Nasdaq with Nomura tapped as sole book-runner and Northland Capital Markets as co-manager. Read more.
