Lakeview Acquisition in an amended S-1 filing said it now plans to offer 17.5 million units in an IPO, down from the 25 million units registeed with the SEC in May 2021.
A unit now consists of one share of Class A common stock and one-half of a warrant (up from one-third of a warrant in the initial filing). Whole warrants would be exercisable at $11.50.
Lakeview remains focused on 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.
The SPAC still intends to apply for a listing on the NYSE under LKVA.U. Read more.
