Here are the 424B prospectus supplements from Leader's Advantage Acquisition Corp. Units (LEDRU) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow LEDRU and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LEDRU filings page.
Leader’s Advantage Acquisition Corp. (LEDRU), a Cayman Islands blank check company, is conducting an initial public offering of 15,000,000 units at $10.00 per unit, for gross proceeds of $150,000,000. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable at $11.50 for one Class A share, starting 30 days after completion of the initial business combination and expiring five years later.
The underwriters have a 45-day option to purchase up to 2,250,000 additional units. A total of $151,125,000 (or $173,793,750 if the over-allotment is exercised in full), equal to $10.075 per unit, will be placed in a U.S.-based trust account and used to redeem public shares or fund a business combination. Public shareholders may redeem shares at the cash held in the trust per share, subject to limits including a 15% cap for any group without the company’s consent if a shareholder vote is held.
The sponsor purchased 4,312,500 Class B founder shares for $25,000 (of which up to 562,500 may be surrendered) and has committed to buy 1,750,000 private placement warrants for $3,500,000. The underwriters will buy 193,125 Class A shares for $1,931,250 in a private placement. Founder shares convert into Class A shares with anti-dilution rights designed to maintain 20% of ordinary shares outstanding around the business combination, which, together with private and potential working capital warrants, may result in material dilution and creates incentives and conflicts of interest highlighted in the risk disclosures.