Logistics Innovation Technologies Corp. Announces Closing of $341 Million Initial Public Offering
15 Juni 2021 - 10:19PM
Logistics Innovation Technologies Corp. (”LIT”) announced today the
closing of its initial public offering of 34,089,611 units at a
price of $10.00 per unit, including 4,089,611 units issued pursuant
to the exercise by the underwriters of their over-allotment option.
The units are listed on the Nasdaq Global Market ("Nasdaq") and
began trading under the ticker symbol "LITTU" on June 11, 2021.
Each unit consists of one share of Class A common stock and
one-third of one redeemable warrant, with each whole warrant
exercisable to purchase one share of Class A common stock at a
price of $11.50 per share. After the securities comprising the
units begin separate trading, the shares of Class A common stock
and warrants are expected to be listed on Nasdaq under the symbols
"LITT" and "LITTW," respectively.
LIT is a blank check company whose business
purpose is to effect a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. While LIT may pursue an
initial business combination with a company in any sector or
geography, LIT intends to focus its search on innovation in the
logistics industry, which includes both logistics technology
companies and traditional industry players that can leverage
technology to improve the efficiency of customer supply chains and
their markets.
Guggenheim Securities, LLC acted as the sole
bookrunner for the offering.
A registration statement relating to these
securities was declared effective by the U.S. Securities and
Exchange Commission (the "SEC") on June 10, 2021. 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.
The offering is being made only by means of a
prospectus. Copies of the prospectus relating to this offering may
be obtained from Guggenheim Securities, LLC, 330 Madison Avenue,
New York, New York 10017, Attention: Equity Capital Markets, or by
telephone at (212) 518-9544.
Forward Looking Statements
This press release contains statements that
constitute "forward-looking statements," including with respect to
the initial public offering and search for an initial business
combination. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the 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 LIT, including those set forth
in the Risk Factors section of LIT's registration statement for the
initial public offering filed with the SEC. Copies are available on
the SEC's website, www.sec.gov. LIT undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
Contacts
Investor Contact:
Logistics Innovation Technologies Corp.(678)
954-4822
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