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Mobility SPAC Levere Holdings files for a $250 million IPO

February 16, 2021

Levere Holdings, a blank check company formed by Goggo Network and auto-tech execs targeting the EMEA mobility sector, filed on Friday with the SEC to raise up to $250 million in an initial public offering.

The Cayman Islands-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Levere Holdings would command a market value of $313 million.

The company is led by CEO and Chairman Martín Varsavsky and COO and Director Yasmine Fage, who are co-founders of Goggo Network, where they serve as CEO and COO, respectively. They are joined by CFO and CIO Stefan Krause, who currently serves as the COO of Fisker (FSR) and previously founded Canoo (GOEV), both of which went public via SPAC.

The company plans to focus on targets with a presence in EMEA, with high potential for EMEA entrance, or those who would benefit from being deployed in EMEA to then expand to different regions. It will concentrate on businesses who play a key role for the future of mobility, focusing on the development of autonomous driving, connected vehicles, mobility services and electric vehicles.

Levere Holdings was founded in 2021 and plans to list on the Nasdaq under the symbol LVRAU. The company filed confidentially on January 29, 2021. Citi and Deutsche Bank are the joint bookrunners on the deal.