MEMPHIS, Tenn., Sept. 27, 2021 /PRNewswire/ -- Live Oak
Crestview Climate Acquisition Corp. (the "Company"), a blank check
company formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses, announced
today that it closed its initial public offering of 20,000,000
units at $10.00 per unit. While the
Company may pursue an initial business combination target in any
business or industry, it intends to focus its search on companies
in the climate and sustainability spaces which facilitate the
Circular Economy, progress via the energy transition away from
fossil fuels, enhance food chain continuity, recycling and
alternative sourcing, as well as mitigate greenhouse gases and
reduce plastic waste in the environment. The Company is led by
Chief Executive Officer, Richard J.
Hendrix, Chief Financial Officer, President and Secretary,
Gary K. Wunderlich, Jr., Chief
Operating Officer, Adam J. Fishman,
Board member, Adam Klein, and
Chairman of the Board, John P.
Amboian.
The units are listed on the New York Stock Exchange (the "NYSE")
and commenced trading under the ticker symbol "LOCC.U" on
September 23, 2021. Each unit
consists of one share of the Company's Class A common stock and
one-third of one redeemable warrant, with each whole warrant
entitling the holder thereof to purchase one share of Class A
common stock at a price of $11.50 per
share. No fractional warrants will be issued upon separation of the
units and only whole warrants will trade. Once the securities
comprising the units begin separate trading, the shares of Class A
common stock and warrants are expected to be listed on the NYSE
under the symbols "LOCC" and "LOCC WS," respectively.
Jefferies LLC and BofA Securities acted as the book-running
managers for the offering. The Company has granted the underwriters
a 45-day option to purchase up to an additional 3,000,000
units at the initial public offering price to cover
over-allotments, if any.
The offering is being made only by means of a prospectus. Copies
of the prospectus relating to the offering may be obtained from
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York,
NY 10022, or by telephone at 877-821-7388 or by email at
Prospectus_Department@Jefferies.com or BofA Securities, Attention:
Prospectus Department, NC1-004-03-43, 200 North College
Street, 3rd floor, Charlotte NC
28255-0001 or by email at: dg.prospectus_request@bofa.com.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission (the
"SEC") on September 22, 2021. 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 an
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 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.
Contact
Live Oak Crestview Climate Acquisition Corp.
Gary K. Wunderlich, Jr.
Chief Financial Officer, President and Secretary
(901) 685-2865
gwunderlich@liveoakmp.com
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SOURCE Live Oak Crestview Climate Acquisition Corp.
