MEMPHIS, Tenn., March 4, 2021 /PRNewswire/ -- Live Oak Mobility
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 upsized initial public offering of 25,300,000 units at
$10.00 per unit, including 3,300,000
units issued pursuant to the exercise by the underwriters of their
over-allotment option. 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 mobility and motion
technology sectors, which could include but not be limited to
emerging technology companies, component/material suppliers,
infrastructure providers and other mobility-related services.
The Company is led by Chief Executive Officer, Richard J. Hendrix, Chief Financial Officer and
President, Gary K. Wunderlich, Jr.,
Chief Operating Officer, Adam J.
Fishman and Chairman of the Board, Bob Ferguson.
The units are listed on the New York Stock Exchange (the "NYSE")
and commenced trading under the ticker symbol "LOKM.U" on
March 2, 2021. Each unit consists of
one share of the Company's Class A common stock and one-fifth 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 "LOKM" and "LOKM WS," respectively.
Jefferies LLC and BofA Securities acted as the book-running
managers for the offering.
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 March 1, 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 Mobility Acquisition Corp.
Gary K. Wunderlich, Jr.
Chief Financial Officer and President
(901) 685-2865
gwunderlich@liveoakmp.com
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SOURCE Live Oak Mobility Acquisition Corp.