Levy Acquisition Corp. is a blank check company incorporated in the Cayman Islands. It is a special purpose acquisition company (SPAC) that was formed for the purpose of acquiring, merging with, or acquiring control of a business in a stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination. The company is led by Chairman and CEO Edward J. Levy, who is also the CEO and Chairman of buyout firm Edward J. Levy & Associates.
Levy Acquisition Corp. was founded in 2020 and completed its initial public offering (IPO) in February 2021, raising $240 million through the sale of 24 million units, each consisting of one Class A ordinary share and one-third of a warrant to purchase one Class A ordinary share.
The company has not announced any specific targets for acquisition, but it has stated that it intends to focus on acquiring a business in the technology, healthcare, industrial, or consumer sectors with an enterprise value of between $1 billion and $3 billion.
Like all SPACs, Levy Acquisition Corp. has a limited amount of time to complete a business combination, typically two years from the date of its IPO. If it is unable to complete a transaction within this time frame, it will be required to return the funds raised in its IPO to its shareholders.
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