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Luxury brand SPAC Aspirational Consumer Lifestyle Corp. prices $225 million IPO at $10

September 23, 2020

Aspirational Consumer Lifestyle Corp., a blank check company formed by executives at LVMH and L Catterton targeting a lifestyle business, raised $225 million by offering 22.5 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.

The company is led by CEO and Chairman Ravi Thakran, the Group Chairman of luxury goods conglomerate LVMH South and South East Asia and Australia/New Zealand. Thakran is also the founder of L Capital Asia, the Asian private equity venture of LVMH; L Capital merged with Catterton in 2016 to form L Catterton. Vice Chairman Mark Bedingham is currently the CEO of Singapore Myanmar Investco and an Executive Chairman of two major hospitality companies owned by L Catterton. President Lisa Myers is the co-founder and Managing Partner of global consumer-focused private equity firm Clerisy and a former Partner at L Catterton, where she focused on L Catterton Flagship Buyout Fund.

The company plans to target businesses with premium brands that offer an aspirational lifestyle experience to consumers, which it refers to as the "aspirational lifestyle space."

Aspirational Consumer Lifestyle Corp. plans to list on the NYSE under the symbol ASPL.U. Credit Suisse acted as a lead manager on the deal.