LCP Acquisition, a blank check company formed by The LCP Group targeting the leisure and hospitality industry, filed on Tuesday with the SEC to raise up to $200 million in an initial public offering.
The White Plains, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, LCP Acquisition would command a market value of $250 million.
The company is led by CEO and Chairman Steven Goldman, who currently serves as CEO of publicly-traded hotel REITs FelCor Lodging Trust and Sunstone Hotel Investors; Vice Chairman Robert Roskind, founder and Chairman of The LCP Group; and President, COO, and Director Francis Lively, who currently serves as CEO of The LCP Group. The SPAC plans to target the travel, leisure, and hospitality industries, including technology and data companies operating in these industries.
LCP Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol LCPU. The SPAC filed confidentially on September 4, 2020. B. Riley FBR is the sole bookrunner on the deal.
