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Logistics Innovation Technologies Corp. announced that holders of its IPO units can now separately trade shares of Class A common stock and warrants starting August 2, 2021. The IPO, completed on June 15, 2021, involved 34,089,611 units. After the separation, shares will trade under the symbols 'LITT' for Class A common stock and 'LITTW' for warrants, while remaining units will trade under 'LITTU' on Nasdaq. The Company, focused on logistics innovation, seeks to merge with businesses to improve supply chain efficiency. For separation, brokers must contact the Company’s transfer agent.
Logistics Innovation Technologies Corp. (LIT) finalized its initial public offering on June 15, 2021, raising $340,896,110 by selling 34,089,611 units at $10.00 each. This includes 4,089,611 units from an over-allotment option. Each unit consists of one Class A common stock share and one-third of a redeemable warrant, with full warrants priced at $11.50. The shares began trading on Nasdaq under the symbol 'LITTU'. LIT, operating as a blank check company, aims to merge or acquire businesses within the logistics sector, particularly focusing on innovative logistics technology.
Logistics Innovation Technologies Corp. (LIT) has priced its initial public offering (IPO) at $10.00 per unit, aiming to sell 30 million units, expected to close on June 15, 2021. The units, with each including one share of Class A stock and one-third of a redeemable warrant, will trade under ticker symbol LITTU starting June 11, 2021. LIT plans to pursue a merger or acquisition in the logistics sector, leveraging its experienced management team, which includes former executives from UPS and Walmart Transportation.