Launch One Acquisition Corp. Completes $230.0 Million Initial Public Offering

Rhea-AI Summary

Launch One Acquisition Corp. has completed its initial public offering, raising $230 million by selling 23 million units at $10 per unit. Each unit comprises one Class A ordinary share and half a redeemable warrant. The units are trading on Nasdaq under the symbol 'LPAAU'. The company, a blank check entity, aims to merge with or acquire businesses, focusing primarily on healthcare and life sciences globally. Led by Ryan Gilbert as Chairman and Chris Ehrlich as CEO, Launch One seeks established, growth-oriented businesses. $230 million from the IPO and private placement has been placed in trust.

Positive

• Successful completion of $230 million IPO
• Full exercise of underwriters' over-allotment option for 3 million additional units
• Units trading on Nasdaq Global Market
• $230 million placed in trust for potential business combination

Negative

• None.

News Market Reaction

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1 alert

% News Effect

On the day this news was published, LPAAU declined NaN%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, NY, July 15, 2024 (GLOBE NEWSWIRE) -- Launch One Acquisition Corp. (the “Company”) announced today the closing of its initial public offering of 23,000,000 units, which includes 3,000,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full. The offering was priced at $10.00 per unit, resulting in gross proceeds of $230,000,000.

The Company’s units began trading on July 12, 2024 on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “LPAAU.” Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “LPAA” and “LPAAW,” respectively.

Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of warrants (as well as the exercise of the over-allotment option), $230,000,000 (or $10.00 per unit sold in the public offering) was placed in trust.

The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution. The Company’s primary focus, however, will be in healthcare and healthcare-related industries and, in particular, life sciences, globally. The Company will pursue completing a business combination with an established business of scale poised for continued growth, led by a highly regarded management team.

The Company’s management team is led by Ryan Gilbert, its Chairman of the Board of Directors, Chris Ehrlich, its Chief Executive Officer and a director, and Jurgen van de Vyver, its Chief Financial Officer. The Company’s Board of Directors also includes Brian G. Atwood, Rodney A. Ferguson, Ph.D., and Risa Stack, Ph.D.

Cantor Fitzgerald & Co. acted as sole book-running manager for the offering.

A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on July 11, 2024. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds thereof. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Launch One Acquisition Corp.
Jurgen van de Vyver
jurgen@launchpad.vc
(510) 692-9600

FAQ

What is the ticker symbol for Launch One Acquisition Corp's units on Nasdaq?

Launch One Acquisition Corp's units are trading on the Nasdaq Global Market under the ticker symbol 'LPAAU'.

How much did Launch One Acquisition Corp raise in its initial public offering?

Launch One Acquisition Corp raised $230 million in its initial public offering by selling 23 million units at $10 per unit.

What is the composition of each unit offered by Launch One Acquisition Corp (LPAAU)?

Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant allowing the purchase of one Class A ordinary share at $11.50.

What is the primary focus of Launch One Acquisition Corp for potential business combinations?

Launch One Acquisition Corp primarily focuses on healthcare and healthcare-related industries, particularly life sciences, on a global scale.