Logistics Innovation Technologies Corp. (LITTU) Prices Downsized $300M IPO


Logistics Innovation Technologies Corp. (LITTU) Prices Downsized $300M IPO

Jun 10, 2021 IPOs by Marlena Haddad

Logistics Innovation Technologies Corp. announced the pricing of its downsized $300 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “LITTU” Friday, June 11.

The new SPAC aims to combine with a logistics technology target that is disrupting the status quo with leading or growing market share and has a defensible business model. Logistics Innovation is led by  Chairman and CEO Alan Gershenhorn, and CFO Isaac Applbaum.

Total SPAC deal count for 2021 year-to-date is now 338. This offering is expected to close on Tuesday, June 15.

Guggenheim Securities is acting as the sole book-running manager of the offering. White & Case LLP is serving as Issuer’s Counsel with Davis Polk & Wardwell LLP serving as Underwriter’s Counsel.  BDO USA, LLP serves as auditor.  Continental Stock Transfer & Trust Company is acting as trustee.