February 24, 2024

IPO News

Lazard’s Fintech SPAC Pulls Out IPO Worth $250 Million

Lazard withdrew its goals on the initial public offering in end-September. Being a blank check firm founded by Lazard targets the fintech sector. It had offered twenty-five million units at 10 dollars to file and raise 250 million dollars in March 2021. Each unit contained one-fourth of the warrant and single common stock. The proposed deal and size would command a value of 313 million dollars.

The firm was organized by Alexander Stern, the Executive Chairman and the President of Lazard Groups and Ltd. He is also the managing director and the CEO of Lazard’s Finance Group. Mary Ann Deignan is the Director and the CFO of Lazard’s Capital Markets Advisory. The organization aims to concentrate on the healthcare sector, emphasizing life science tools, medical technology, biotechnology, and healthcare information technology.

The healthcare sector of SPAC files its article for a 250 million dollar IPO to appear on the website of the Renaissance Capital. The SPACs of Lazard include LGACU, added in the IPO of February 2021, and LHCAU. The latter, however, withdrew end September. Lazard Acquisition in Healthcare was developed in 2021 which is planning to list itself on Nasdaq under LFTAU. In this deal, Goldman Sachs is the prime bookrunner. IPO ETF and IPOS have investments made in securities of specific firms. The research analysts of Renaissance Capital prepared the opinions and information displayed on the site without an offer to sell or buy any security.

To keep up with the latest developments in the world of fintech and for more fintech news, please visit https://worldfintechnews.com/.

 

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