Twitter LinkedIn
    Tuesday, February 7
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»IPO»SoftBank’s Claure-backed blank check firm looks to raise $200 million through IPO
    IPO

    SoftBank’s Claure-backed blank check firm looks to raise $200 million through IPO

    January 31, 20212 Mins Read
    LinkedIn Facebook Twitter Email WhatsApp
    FILE PHOTO: Signage for SoftBank Group Corp. is displayed outside one of the company's stores in Tokyo, Japan, on Tuesday, May 9, 2016. SoftBank on July 18, 2016, agreed to buy ARM Holdings Plc for 24.3 billion pounds ($32 billion), securing a slice of virtually every mobile computing gadget on the planet and future connected devices in the home. Photographer: Tomohiro Ohsumi/Bloomberg
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    LDH Growth Corp I, a blank-check company backed by SoftBank Group Corp Chief Operating Officer Marcelo Claure, said on Friday it was looking to raise up to $200 million in its initial public offering.

    The company, controlled by an affiliate of SoftBank, said it planned to sell 20 million units of shares and warrants at $10 each.

    A blank-check firm, also known as a special purpose acquisition company (SPAC), uses capital raised through an IPO to acquire a private company, typically within two years, which becomes public when merged.

    SPACs raised $82 billion through IPOs in 2020, according to data from Dealogic. They have emerged as a popular alternative for companies looking to go public with less regulatory scrutiny.

    LDH Growth said it would look to merge with businesses focused on Latin America and Hispanic populations.

    “Growing up in Bolivia, I have witnessed firsthand the innovation and passion of the people in Latin America. I started my first business, Brightstar, in the region,” said Claure, who will serve as chief executive officer of LDH Growth.

    Another SoftBank backed company called SVF Investment Corp went public earlier this month, raising about $525 million.

    LDH Growth’s shares will be listed on Nasdaq under the ticker symbol “LDHAU”.

    Citigroup and JP Morgan are the underwriters for the offering.

    Source: Reuters

    Image Source

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    IPO Private Equity SPAC
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Euroclear moves into $9.8 trillion private asset market with Goji buy

    December 21, 2022

    CAI raises over $1B for inaugural fund and co-investment programme

    November 18, 2022

    KKR looking to sell Canadian gas producer Westbrick for $1.13B

    November 18, 2022

    Carlyle targeting $1.6B for second renewables fund

    November 18, 2022

    Comments are closed.

    Other Articles

    AllianceBernstein closes latest real estate debt fund on $1.3B

    August 9, 2022

    Conair Corporation Acquired By American Securities

    May 17, 2021

    UK car seller Cazoo to join NYSE through Dan Och-backed SPAC

    March 30, 2021

    Abingworth raises USD582m for new Clinical Co-Development Fund, ACCD 2

    May 10, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2023 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.


    Lost password?