SPACInsider Logo
Landcadia III (LCY) Shareholders Approve Hillman Group Deal
by Marlena Haddad on 2021-07-13 at 5:35pm

Landcadia Holdings III, Inc.  (NASDAQ:LCY) announced in an 8-K filing that its shareholders approved its combination with hardware and home improvement company Hillman Group in a meeting earlier this morning.

At the meeting, a total of 51,513,752, or 82.42%, of the company’s issued and outstanding shares were present.  The business combination received 51,503,549 votes in favor of the transaction, with just 2,573 votes against it.

Landcadia III pre-announced yesterday that there were no redemptions in connection with the business combination. Although press releases for SPACs do not typically mention redemptions, it is likely the company figured it would be best to make this announcement so the market does not make any assumptions ahead of the closing.  Just yesterday, Wheels Up had to waive the minimal cash in trust amount for its SPAC deal with Aspirational Consumer Lifestyle Corp. due to the heavy amount of redemptions.

Hillman’s existing investors are expected to hold 49% of the combined entity’s equity, with Landcadia III shareholders taking 26%.

The filing did not include a timeline on the transaction’s close, but it is likely to be completed shortly. The combined company is then expected to trade on the Nasdaq under the symbol, “HLMN.”

The parties initially announced the $2.6 billion deal on January 25. Cincinnati-based Hillman sells hardware and tools online as well as through about 40,000 retailers.

Although the transaction was approved unanimously, certain advisory charter proposals received pushback, but were ultimately passed.  For a full list of proposals and vote talliesclick HERE.


  • Barclays and Jefferies are acting as financial advisors to Hillman.
  • Ropes & Gray LLP is acting as legal advisor to Hillman.
  • Jefferies is acting as capital markets advisor to Landcadia III.
  • White & Case LLP is acting as legal advisor to Landcadia III.
  • Jefferies and Barclays are acting as placement agents for the PIPE.


Recent Posts
by Kristi Marvin on 2023-03-25 at 12:14pm

Terms Tracker for the Week Ending March 24, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. While this week was relatively quiet on the filings front, we did see March’s second SPAC IPO price with Oak Woods Acquisition Corp’s $50 million...

by Marlena Haddad on 2023-03-24 at 5:40pm

Latest Non-Redemption Agreements: ExcelFin Acquisition Corp. ExcelFin Acquisition Corp. (XFIN) Adds Non-Redemption Agreement In connection with the special meeting of stockholders of ExcelFin Acquisition Corp. (NASDAQ:XFIN) to extend its completion deadline from April 25, 2023 to October 25, 2023, the company and its sponsor, ExcelFin SPAC LLC, entered into a non-redemption agreement with an unaffiliated third party....

by Marlena Haddad on 2023-03-24 at 11:33am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News:  Momentus SPAC backers accused of deliberately engineering a catastrophic deal  Momentus SPAC Backers Accused of Hiding Disastrous Deal’s Flaws A Momentus Inc. (NASDAQ:MNTS) investor sued backers of its blank-check merger with a shell company,...

by Nicholas Alan Clayton on 2023-03-24 at 7:20am

DiamondHead Holdings Corp. (NASDAQ:DHHC) announced in an 8-K this morning that its shareholders approved its combination with Great Southern Homes at a special meeting March 23. Only 109,426 shares were redeemed in the connection with the vote, but DiamondHead has seen about 87% redemptions in total across all previous votes, leaving it with about $43.9...

by Nicholas Alan Clayton on 2023-03-24 at 7:05am

Graf Acquisition Corp. IV (NYSE:GFOR) announced that it has signed a non-binding letter of intent to combine with clinical-stage biopharma company NKGen. This announcement is not a pure teaser as Graf IV is not facing an imminent extension vote and currently has until May 25 on its clock. It does, however, signal something of a...

Privacy Policy|Terms Of Use
Copyright © 2023 SPACInsider, Inc. All Rights Reserved