Clover Leaf Capital, a blank check company backed by Yntegra Group targeting the cannabis industry, filed on Wednesday with the SEC to raise up to $125 million in an initial public offering.
The Miami, FL-based company plans to raise $125 million by offering 12.5 million units at $10. Each unit will consist of one share of common stock and one whole warrant, exercisable at $11.50. At the proposed deal size, Clover Leaf Capital will command a market value of $158 million.
The company is led by CEO and Chairman Felipe MacLean, who founded the Yntegra Group and currently serves as CEO. He is joined by CFO Luis Guerra, who has served as Co-Founder and Managing Director of Vitax Partners since 2018. Clover Leaf Capital intends to focus its search on businesses in the cannabis industry.
Clover Leaf Capital was founded in 2021 and plans to list on the Nasdaq under the symbol CLOEU. Maxim Group LLC is the sole bookrunner on the deal.
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