L&F Acquisition Corp. Announces Pricing of $150 Million Initial Public Offering

CHICAGO--(BUSINESS WIRE)--L&F Acquisition Corp. (the “Company”), a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses, today announced the pricing of its initial public offering of 15,000,000 units at $10.00 per unit. The units have been approved for listing on The New York Stock Exchange, or NYSE, under the symbol “LNFA.U” beginning on November 19, 2020. Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on NYSE and trade under the symbols “LNFA” and “LNFA WS,” respectively.

The Company intends to pursue a business combination with a high-growth business and concentrate its efforts on identifying technology and services businesses in the governance, risk, compliance and legal (“GRCL”) sector with an enterprise value of approximately $750 million to $2 billion. The Company is led by Chairman Jeffrey C. Hammes, Director and Chief Executive Officer Adam Gerchen, Director Richard Levy and Chief Financial Officer Tom Gazdziak.

The offering is expected to close on November 23, 2020, subject to customary closing conditions.

Jefferies LLC is serving as sole book-running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 2,250,000 units to cover over-allotments, if any.

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, by telephone at [phone] or by email at [e-mail].

A registration statement relating to the securities became effective on November 18, 2020 in accordance with Section 8(a) of the Securities Act of 1933, as amended. 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.

This press release contains statements that constitute "forward-looking statements," including with respect to the proposed 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 Securities and Exchange Commission (“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.

About L&F Acquisition Corp.

L&F Acquisition Corp. is a blank check company formed for the purpose of entering into a combination with one or more businesses, with the intent to concentrate on identifying technology and services businesses in the GRCL sector. L&F Acquisition Corp. is sponsored by JAR Sponsor, LLC, a newly organized special purpose vehicle under the common control of entities affiliated with Chairman Jeffrey C. Hammes, CEO Adam Gerchen, and Victory Park Capital.