Strategy: Capitalizing on Market Weakness
LaFayette made clear that it is eyeing the current softness in global capital and M&A markets as its entry point. In its filing, the SPAC emphasized its intent to seize on the “backlog of private businesses” that have been unable to monetize assets due to stalled transactions and investor hesitancy.
The company is incorporated in the Cayman Islands, with Appleby providing legal advice on jurisdictional matters. Graubard Miller is representing EarlyBirdCapital Inc., the IPO’s sole underwriter.
IPO Frenzy Continues with Leapfrog Acquisition
LaFayette’s $100 million IPO joins a wave of international SPAC activity. On Thursday, Leapfrog Acquisition announced its own IPO plans, aiming for $125 million with Cohen & Gresser LLP guiding the process. Unlike LaFayette, Leapfrog intends to target energy and infrastructure companies outside the U.S.
Leapfrog’s filing revealed a plan to issue 12.5 million units at $10 each, with each unit offering one share of common stock and half a warrant, exercisable at $11.50.
