Lerer Hippeau Acquisition Corp. Prices $200 Million Initial Public Offering
March 05 2021 - 9:00AM
Business Wire
Lerer Hippeau Acquisition Corp. (the “Company”) announced today
that it priced its initial public offering of 20,000,000 shares of
its Class A common stock, $0.0001 par value per share, at $10.00
per share, for gross proceeds of $200,000,000. The Company has
granted the underwriters a 45-day option to purchase up to
3,000,000 additional shares of Class A common stock to cover
over-allotments, if any. The shares will be listed on the Nasdaq
Capital Market and trade under the ticker symbol “LHAA” beginning
March 5, 2021. The offering is expected to close on March 9, 2021,
subject to customary closing conditions.
Lerer Hippeau Acquisition Corp. is a blank check company formed
for the purpose of effecting a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses or entities. The
Company is led by Kenneth Lerer, its Chairman, Eric Hippeau, its
Chief Executive Officer and Director, and Ben Lerer, its President
and Director.
The Company is sponsored by an affiliate of Lerer Hippeau, one
of the most active venture capital firms in the country with a
portfolio of over 400 companies across the consumer and enterprise
technology sectors.
Barclays Capital Inc., Code Advisors LLC and Drexel Hamilton LLC
are serving as underwriters for the offering, with Barclays Capital
Inc. serving as the sole bookrunning manager.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the “SEC”) on March 4, 2021. The offering is being made only by
means of a prospectus. When available, copies of the final
prospectus may be obtained for free on the SEC’s website located at
www.sec.gov and may also be obtained by contacting Barclays Capital
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, or by email at
Barclaysprospectus@broadridge.com or by telephone at (888)
603-5847.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
completion of the initial public offering and the anticipated use
of the net proceeds. No assurance can be given that the offering
discussed above will be completed on the terms described, or at
all, or that the net proceeds of the offering will be used as
indicated. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the
Company’s registration statement and preliminary prospectus for the
Company’s offering filed with the SEC. Copies are available on the
SEC’s website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210305005322/en/
Media Contact Mallory Weinberg Finsbury Glover Hering
Mallory.Weinberg@fgh.com
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