Long Table Growth Corp. (Nasdaq: LTGRU) closed its initial public offering of 17,250,000 units at $10.00 per unit, including full exercise of the over-allotment option, for $172.5 million in gross proceeds.
A concurrent private placement of 3,600,000 warrants raised $3.6 million. $173,362,500, or $10.05 per public unit, was placed in a trust account. Each unit includes one Class A share and half a redeemable warrant exercisable at $11.50.
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Positive
IPO units total 17,250,000 at $10.00, raising $172.5 million gross
Underwriter’s over-allotment option fully exercised for 2,250,000 additional units
Concurrent private placement of 3,600,000 warrants raises $3.6 million
$173,362,500, or $10.05 per unit, deposited into trust account
Nasdaq listing secured for units (LTGRU) with planned separate LTGR and LTGRW symbols
Negative
Public and private warrants exercisable at $11.50 may create future equity dilution
Funds placed in trust limit immediate operational use until a business combination
Market Context
This announcement confirms the successful closing of Long Table Growth Corp.’s IPO at $10.00 per uni...
Analysis
This announcement confirms the successful closing of Long Table Growth Corp.’s IPO at $10.00 per unit, including full exercise of the over-allotment and a concurrent private placement, with $173,362,500 placed in trust at $10.05 per unit. Investors can focus on the SPAC’s mandate and sectors of expertise while monitoring future disclosures around a potential business combination and any changes to capital structure through warrant exercises.
Key Figures
IPO units sold:17,250,000 unitsOver-allotment units:2,250,000 unitsIPO price:$10.00 per unit+5 more
8 metrics
IPO units sold17,250,000 unitsInitial public offering, including over-allotment
Over-allotment units2,250,000 unitsUnderwriter over-allotment option exercised in full
IPO price$10.00 per unitPublic offering price
Warrant exercise price$11.50 per shareExercise price for each whole redeemable warrant
Private placement warrants3,600,000 warrantsConcurrent private placement purchased by sponsor
Private placement price$1.00 per warrantPrice of private placement warrants
Trust account funding$173,362,500Proceeds placed in trust from IPO and private placement
Trust per unit$10.05 per unitAmount in trust per unit sold in public offering
Key Terms
initial public offering, over-allotment option, redeemable warrant, private placement, +3 more
7 terms
initial public offeringfinancial
"announced the closing of its initial public offering of 17,250,000 units"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
over-allotment optionfinancial
"includes 2,250,000 units issued pursuant to the exercise by the underwriter of its over-allotment option in full"
An over-allotment option is a special agreement that allows underwriters to sell more shares than initially planned if demand is high. Think of it like a retailer offering extra units of a popular product to meet additional customer interest. This option helps ensure the full sale is completed and can also give investors extra shares if they want more.
redeemable warrantfinancial
"one Class A ordinary share and one-half of one redeemable warrant"
A redeemable warrant is a financial tool that gives its holder the right to buy shares of a company at a fixed price within a certain period. If the holder chooses to do so, the company can buy back or cancel the warrant before it expires, often to encourage investment or manage share issuance. For investors, it provides an option to potentially buy shares at a favorable price while offering some flexibility for the issuing company.
private placementfinancial
"closed on a private placement of an aggregate of 3,600,000 warrants"
A private placement is a sale of securities directly to a selected group of investors, typically institutions or accredited investors, instead of through a public offering. It lets a company raise money faster and with fewer regulatory steps; for existing shareholders it matters because the newly issued shares, often sold at a discount, increase the share count and can dilute their ownership.
blank check companyfinancial
"Long Table Growth Corp. is a blank check company formed for the purpose of effecting a merger"
A blank check company is a publicly listed shell that raises money from investors before naming a specific business to buy or merge with, similar to handing a cashier a signed check and asking them to fill in the payee later. It matters to investors because it offers a faster, often cheaper path for private firms to become public, but carries extra risk since returns depend on the organizers’ ability to find a good deal and on limited information about the future business.
registration statementregulatory
"A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission"
A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.
prospectusregulatory
"The offering was made only by means of a prospectus"
A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.
DALLAS, TX, June 05, 2026 (GLOBE NEWSWIRE) -- Long Table Growth Corp. (Nasdaq: LTGRU) (the “Company”) today announced the closing of its initial public offering of 17,250,000 units, which includes 2,250,000 units issued pursuant to the exercise by the underwriter of its over-allotment option in full, at a public offering price of $10.00 per unit. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at a price of $11.50 per share.
The units are listed on The Nasdaq Global Market (“Nasdaq”) and commenced trading under the ticker symbol “LTGRU” on June 4, 2026. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “LTGR” and “LTGRW,” respectively.
Concurrently with the closing of the initial public offering, the Company closed on a private placement of an aggregate of 3,600,000 warrants at a price of $1.00 per warrant, resulting in gross proceeds of $3,600,000. Long Table Growth Sponsor LLC, the Company’s sponsor, purchased 3,600,000 private placement warrants. Each private placement warrant is exercisable to purchase one Class A ordinary share at a price of $11.50 per share. Of the proceeds received from the consummation of the initial public offering and the simultaneous private placement of warrants, $173,362,500 (or $10.05 per unit sold in the public offering) was placed in trust.
Long Table Growth Corp. 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. While the Company may pursue an initial business combination in any industry, sector or geographic region, it expects to target a prospective target business that fits within its management team’s historical areas of business expertise. The Company's management team’s long track record includes varied investments across financial technology, property technology, industrial technology/infrastructure and energy transition.
Santander acted as the sole book-running manager for the offering.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on June 3, 2026. This press release shall not constitute an offer to sell or a 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.
The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from Santander US Capital Markets LLC, 437 Madison Avenue, New York, New York 10022, Attention: ECM Syndicate, by email at equity-syndicate@santander.us, by telephone at 833-818-1602 or by visiting the SEC’s website at www.sec.gov.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination and the anticipated use of the net proceeds of the initial public offering and simultaneous private placement. No assurance can be given that the net proceeds of the offering will be used as indicated, or that the Company will ultimately complete a business combination transaction. 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 for the initial public 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.
What did Long Table Growth Corp. (Nasdaq: LTGRU) announce on June 5, 2026?
Long Table Growth Corp. announced the closing of its $172.5 million initial public offering. According to Long Table Growth Corp., the deal included 17,250,000 units at $10.00 each and full exercise of the underwriter’s over-allotment option.
How many units were sold in the Long Table Growth Corp. (LTGRU) IPO and at what price?
The IPO comprised 17,250,000 units sold at a public offering price of $10.00 per unit. According to Long Table Growth Corp., this total includes 2,250,000 units issued upon full exercise of the underwriter’s over-allotment option.
What does each LTGRU unit include for Long Table Growth Corp. investors?
Each LTGRU unit includes one Class A ordinary share and one-half of one redeemable warrant. According to Long Table Growth Corp., each whole warrant allows investors to purchase one Class A ordinary share at an exercise price of $11.50.
How much money from the Long Table Growth Corp. (LTGRU) IPO was placed in trust?
The company placed $173,362,500 of the IPO and private placement proceeds into a trust. According to Long Table Growth Corp., this equals $10.05 for each unit sold in the public offering, to be used for a future business combination.
What were the terms of the Long Table Growth Corp. private placement warrants?
The company sold 3,600,000 private placement warrants at $1.00 per warrant, raising $3.6 million. According to Long Table Growth Corp., each private warrant is exercisable to purchase one Class A ordinary share at $11.50 per share.
What is the business purpose of Long Table Growth Corp. (LTGRU) after its IPO?
Long Table Growth Corp. is a blank check company formed to pursue a business combination. According to Long Table Growth Corp., it may target businesses in sectors aligned with its management’s experience, such as financial, property, industrial technology and energy transition.
