Fertitta and Handler's SPAC Landcadia Holdings IV prices $500 million IPO

Landcadia Holdings IV, the fourth blank check company formed by the CEOs of Landry's and Jefferies to acquire an entertainment business, raised $500 million by offering 50 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50.

The company is led by CEO and Co-Chairman Tilman Fertitta, CEO of Fertitta Entertainment, which owns the NBA's Houston Rockets, restaurant conglomerate Landry's, and the Golden Nugget Casinos. Co-Chairman and President Richard Handler is currently the CEO of Jefferies. The company plans to target the consumer, dining, hospitality, entertainment, and gaming industries, including technology companies operating in these industries.

Landcadia Holdings IV plans to list on the Nasdaq under the symbol LCAHU. Jefferies acted as a lead manager on the deal.