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Victory Park Capital's second SPAC L&F Acquisition prices $150 million IPO at $10

November 18, 2020

L&F Acquisition, the second blank check company formed by Victory Park Capital targeting governance, risk, compliance and legal tech, raised $150 million by offering 15 million units at $10. Each unit consists of one common share and one half of a warrant, exercisable at $11.50.

The company is led by Chairman Jeffrey Hammes, former Chairman of Kirkland & Ellis, where he joined in 1985 served as a Partner until his retirement in 2019. CEO and Director Adam Gerchen is co-founder and CEO of law firm Keller Lenkner. Victory Park Capital founder and CEO Richard Levy serves as a Director. The SPAC plans on targeting businesses in the governance, risk, and compliance, and legal technology and software ("GRCL") sectors.

Victory Park's previous SPAC, VPC Impact Acquisition Holdings (VIHAU), went public this past September and and last closed about flat from the $10 offer price.

L&F Acquisition plans to list on the NYSE under the symbol LNFA.U. Jefferies acted as a lead manager on the deal.