Lionheart Holdings today registered to offer 20 million units at $10 each. A unit consists of one Class A share and one-half of a warrant.
Lionheart in the registration statement said it will focus on “completing a business combination with an established business of scale poised for continued growth, led by a highly regarded management team.”
Chairman, President and CEO Ophir Sternberg has over 30 years of experience acquiring, developing, repositioning and investing in all segments of the real estate industry, including office, industrial, retail, hospitality, ultra-luxury residential condominiums and land acquisitions, according to the S-1 filing. Sternberg is founder and CEO of Miami-based Lionheart Capital, an investment firm founded in 2010.
Non-managing sponsor investors have expressed an interest in purchasing up to 22,764,262 units at the offering price. Lionheart Sponsor, LLC, and Cantor Fitzgerald, the representative of the underwriters, have committed to purchase an aggregate of 6 million warrants at $1 each.
The sponsor currently owns 7,666,667 Class B shares, up to 1 million of which will be surrendered to the SPAC for no consideration after the closing of the offering, depending on the extent to which the underwriters’ over-allotment option is exercised.
Cantor is the lone book-running manager for this offering.
The new SPAC intends to apply for a Nasdaq listing under the ticker symbol CUBB. Read more.
