Lakeview Acquisition in a letter to the SEC informed the regulator that a planned offering of 17.5 million units will be withdrawn and the SPAC will not proceed with an IPO.
Lakeview originally registered to offer 25 million units in May 2021, downsizing the offering to 17.5 million units in January of this year. The SPAC had planned to target companies in the US insurance sector.
The SPAC is led by Chairman and CEO Jeffrey Hayman, who was a member of the board of directors of Zurich Insurance Group Ltd. from March 2016 to March 2021. He previously served on the boards of 21st Century Insurance and Fuji Fire and Marine Insurance. Read more.
