NEW YORK, March 11, 2022 /PRNewswire/ -- Lakeshore
Acquisition II Corp. (the "Company"), a newly organized blank check
company incorporated as a Cayman
Islands exempted company and led by Chairman and CEO
Bill Chen, today announced the
closing of its initial public offering of 6,900,000 units (which
includes full exercise of the underwriter over-allotment option) at
an offering price of $10.00 per unit,
with each unit consisting of one ordinary share of the Company,
one-half of one redeemable warrant and one right to receive 1/10 of
one ordinary share. Each whole warrant will entitle the holder
thereof to purchase one ordinary share at $11.50 per share. The units began trading on the
Nasdaq Capital Market ("NASDAQ") under the ticker symbol "LBBBU" on
March 9, 2022. Once the securities
comprising the units begin separate trading, the ordinary shares,
the warrants and the rights are expected to be traded on the NASDAQ
under the symbols "LBBB", "LBBBW," "LBBBR" respectively. No
fractional warrants will be issued upon separation of the units and
only whole warrants will trade.
The Company intends to use the net proceeds from the offering,
and the simultaneous private placements of units, to consummate the
Company's initial business combination.
Network 1 Financial Securities, Inc. acted as sole book-running
manager for the offering. Maxim Group LLC acted as an underwriter
and financial advisor in connection with the offering.
A registration statement relating to the securities sold in the
initial public offering was declared effective by the U.S.
Securities and Exchange Commission (the "SEC") on March 8, 2022. The offering is being made only by
means of a prospectus forming a part of the effective registration
statement. When available, copies of the prospectus relating to
this offering may be obtained by contacting Network 1 Financial
Securities, Inc., 2 Bridge Avenue Suite241, Red Bank, NJ 07701, Attention Karen Mu, email
kmu@netw1.com or by calling +1(800)886-7007.
This press release shall not constitute an offer to sell or a
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.
About Lakeshore Acquisition II Corp.
Lakeshore Acquisition I Corp. is a blank check company, also
commonly referred to as a special purpose acquisition company, or
SPAC, formed for the purpose of effecting a merger, share exchange,
asset acquisition, share purchase, reorganization or similar
business combination with one or more businesses or entities.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
Company's initial public offering ("IPO"), the anticipated use of
the net proceeds thereof and the Company's 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 Lakeshore Acquisition II Corp., including
those set forth in the Risk Factors section of Lakeshore
Acquisition II Corp.'s registration statement and prospectus for
the IPO filed with the SEC. Copies are available on the SEC's
website, www.sec.gov. Lakeshore Acquisition II Corp. undertakes no
obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
Contact Information:
Bill Chen
Chief Executive Officer
Lakeshore Acquisition II Corp.
+1(917) 327 - 9933
bchen65@126.com
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SOURCE Lakeshore Acquisition II Corp.