BERLIN, March 23, 2021 /PRNewswire/ -- Levere
Holdings Corp. (the "Company") today announced the closing of its
initial public offering ("IPO") of 25,000,000 units at $10.00 per unit. The Company's units began
trading on the Nasdaq Capital Market ("NASDAQ") under the ticker
symbol "LVRAU" on March 19, 2021.
Each unit issued in the IPO consists of one share of Class A
common stock and one-third of a warrant, exercisable at
$11.50. Only whole warrants were
exercisable. Once the securities comprising the units begin
separate trading, the Class A ordinary shares and warrants are
expected to be listed on the NASDAQ under the symbols "LVRA" and
"LVRAW", respectively.
Martin Varsavsky, Chairman and CEO of Levere Holdings
Corp., said, "We are excited about this important milestone and
grateful for the support received from a distinguished set of
investors who share our vision of enabling a mobility leader in
Europe that can shape the
transportation revolution. We believe that the depth of our
collective expertise, our entrepreneurial track record and
expansive network will be instrumental in achieving the Company's
objectives and advancing mobility."
Mr. Varsavsky continued, "Tomorrow's mobility will
look fundamentally different than today's. The sector's secular
trends, such as autonomous driving and the electrification of
vehicles, will fundamentally reshape the world of mobility. Being
at the forefront of this transformation requires capital. Our
listing is a powerful accelerator for advancing mobility in
Europe."
Stefan Krause, CIO and CFO,
said, "I am very excited to be part of this team and to
enable European companies to compete in the future global mobility
ecosystem." Yasmine
Fage, COO, added, "We believe that the deep expertise
and focus of our team, and of our board members and advisors
in the mobility sector, will allow us to bring a distinctive value
proposition to companies in Europe. We will truly
support these companies in their transformation to being global
champions."
A registration statement relating to these securities were
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on March 18, 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 offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Citigroup Global Markets Inc. and Deutsche Bank Securities Inc.
acted as joint book-running managers in the offering.
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. No
assurance can be given that the offering discussed above will be
completed on the terms described, or at all, or 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 these documents 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.
About Levere Holdings Corp.
Levere Holdings Corp. is a special purpose acquisition company
sponsored by Goggo Network GmbH. The Company was formed for the
purpose of effecting a merger, share exchange, asset acquisition,
share purchase, reorganization or similar business combination with
one or more businesses within the mobility industry (focusing on
the development of autonomous driving, connected vehicles, mobility
services and electric vehicles), with a presence in EMEA or high
potential for an EMEA entrance or those who would benefit from
being deployed in EMEA to then expand to different regions. The
Company is led by Martin Varsavsky, CEO and Chairman, Yasmine Fage, COO and Director, and Stefan Krause, CIO and CFO.
About Goggo Network GmbH
Goggo Network is a European-based mobility start-up formed to
accelerate the mobility transition in Europe. Goggo's vision is to provide all
people with autonomous, electric and shared mobility solutions
through the creation of Autonomous Mobility Networks in
Europe. The venture strives to
lead the driverless revolution in order to solve the transportation
challenges of today: heavy traffic, pollution, universal access or
efficient use of public resources. Goggo was founded by Martin
Varsavsky and Yasmine Fage and is
backed by Axel Springer Digital Ventures and Softbank.
Media Contacts
Daniel Yunger
Kekst CNC
daniel.yunger@kekstcnc.com
+1 212 521 4800
Knut Engelmann
Kekst CNC
knut.engelmann@kekstcnc.com
+49 174 234 2808
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SOURCE Levere Holdings Corp.