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Lionheart Capital's fourth SPAC Lionheart IV withdraws $250 million IPO

June 21, 2022

Lionheart IV, the fourth blank check company formed by Lionheart Capital, withdrew its plans for an initial public offering on Tuesday. It had filed in March 2021 to raise $250 million by offering 25 million units at $10, with each unit most recently containing one share of common stock and one-third of a warrant.

The company was set to be led by CEO and Chairman Ophir Sternberg, the founder and CEO of Lionheart Capital, and CFO Paul Rapisarda, the CFO of Lionheart Capital and former CFO of solar company Etrion Corp (TSX:ETX). The group's other SPACs include Lionheart III (LIONU), which went public in November 2021 (+1% from $10 offer price), and Lionheart Acquisition II, which completed its merger with claims recovery platform MSP Recovery (MSPR; -86%) in May 2022. Lionheart IV had planned to pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector.

The Miami, FL-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol LHIVU. Nomura Securities was set to be the sole bookrunner on the deal.