Fintech-focused SPAC LF Capital Acquisition II files for a $225 million IPO

LF Capital Acquisition II, the second blank check company led by the former CSO of Candriam and former CEO of BNP Paribas targeting fintech, filed on Thursday with the SEC to raise up to $225 million in an initial public offering.

The company plans to raise $225 million by offering 22.5 million units at $10 per unit. Each unit contains one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, the company will command a market value of $281 million. 

LF Capital Acquisition II is led by Executive Chairman Elias Farhat, former Chief Strategy Officer of Candriam, Non-Executive Chairman Baudouin Prot, former CEO and Chairman of BNP Paribas, and CEO and President Scott Reed, co-founder and Partner at BankCap Partners. The company aims to leverage management's expertise to target fintech, tech, digital assets, or consumer sectors. 

The groups previous blank check company, LF Capital Acquisition, raised $135 million in June of 2018, before eventually completing a business combination with Landsea Homes (LSEA) in January of 2021. 

The Dallas, TX-based company was founded in 2021 and plans to list on the Nasdaq under the symbol LFACU. Jefferies is the sole bookrunner on the deal.