LF Capital Acquisition II Postpones Meeting on Extension Contribution Until Tomorrow

LF Capital Acquisition II announced that its stockholders meeting was adjourned yesterday without conducting any business and will reconvene tomorrow at 6 p.m. Eastern. LF II shareholders are expected to consider a proposal for increasing monthly extension payments to 4 cents a share, up from 3.3 cents.

The SPAC yesterday teased that it had entered into a non-binding letter of intent with a target company, a US-based manufacturer in the packaging industry with a blue-chip customer base subject to multi-year contracts, the SPAC said.

The current merger deadline is Feb. 19.

The SPAC raised $258.75 million in a November 2021 IPO to target companies with a disruptive business model in the financial technology or services, technology, digital asset or consumer sectors. 

LF II also said its sponsor elected to convert 6,268,750 shares of Class B Common Stock it holds on a one-for-one basis into Class A common stock. Following the conversion, the SPAC had 32,143,750 shares of Class A Common Stock issued and outstanding and 200,000 shares of Class B Common Stock. Read more.

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