HOUSTON, May 9, 2019 /PRNewswire/ -- Landcadia
Holdings II, Inc. (Nasdaq: LCAHU) (the "Company") announced today
that it closed its initial public offering of 31,625,000 units.
This includes the exercise in full of the underwriters'
over-allotment option to purchase up to an additional 4,125,000
units. The offering was priced at $10.00 per unit, resulting in gross proceeds of
$316,250,000.
The Company's units began trading on The Nasdaq Capital Market
("Nasdaq") under the ticker symbol "LCAHU" on May 7, 2019. Each unit consists of one share of
Class A common stock and one-third of one redeemable warrant to
purchase one share of the Class A common stock at a price of
$11.50 per share. After the
securities comprising the units begin separate trading, the shares
of Class A common stock and the warrants are expected to be listed
on Nasdaq under the symbols "LCA" and "LCAHW," respectively. No
fractional warrants will be issued upon separation of the units and
only whole warrants will trade.
Landcadia Holdings II, Inc. is a blank check company whose
business purpose is to effect a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses. The Company is
sponsored by Fertitta Entertainment, Inc. and Jefferies Financial
Group Inc. The Company is led by Tilman J.
Fertitta, the Company's Co-Chairman and Chief Executive
Officer, the sole shareholder, Chairman and Chief Executive Officer
of Fertitta Entertainment, Inc., and Richard Handler, the Company's Co-Chairman and
President, the Chief Executive Officer of Jefferies Financial Group
Inc. and Chairman and Chief Executive Officer of Jefferies Group
LLC. While the Company may pursue an initial business combination
target in any industry, the Company intends to focus its search on
investment opportunities in the consumer, dining, hospitality,
entertainment and gaming industries, including technology companies
operating in these industries.
Jefferies LLC acted as the sole book-running manager for the
offering.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus 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.
A registration statement relating to the securities has been
declared effective by the U.S. Securities and Exchange Commission
("SEC") on May 6, 2019. 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 offer, solicitation, or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
Cautionary Note Concerning Forward-Looking
Statements
This press release contains statements that
constitute "forward-looking statements," including with respect to
the search for an initial business combination. 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 preliminary prospectus for the
Company's offering filed with the SEC. Copies of such filings 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.
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SOURCE Landcadia Holdings II, Inc.