Lakeshore Acquisition I Corp. (LAAA) Adds $8.2M to PIPE
by Nicholas Alan Clayton on 2022-11-30 at 9:39am

Lakeshore Acquisition I Corp. (NASDAQ:LAAA) announced in an 8-K filing this morning that it has added $8.2 million in additional financing to its deal with medical device company ProSomnus.

The investment comes in exchange for 820,000 shares, but investors will also receive 619,932 additional shares so that they are effectively buying in at $5.69 per share. Lakeshore I IPO’d with a Crescent Term, but this funding would have to represent more than 60% of total proceeds at close and other conditions would have to be met in order for it to be triggered.

Alongside the PIPE additions, the SPAC also secured an agreement from an investor to not redeem 195,000 shares in exchange for receiving 167,717 additional new shares. Together with the existing $30 million PIPE, these two moves would get Lakeshore I over the deal’s $40 million minimum cash condition even with all other public shares redeemed.

Lakeshore I shareholders will be making their final redemption decisions at today’s redemption deadline in connection with its completion vote to be held on Friday, December 2.

The parties initially announced the $168 million combination on May 10. Pleasanton, California-based ProSomnus customizes oral appliance therapy devices to treat obstructive sleep apnea.

The precision oral appliance therapy is a new option for treating obstructive sleep apnea, where each ProSomnus device is personalized and digitally manufactured to match the anatomy and treatment plan for each patient.

Lakeshore Acquisition I Corp. (LAAA) Adds $8.2M to PIPE
Recent Posts
by Nicholas Alan Clayton on 2025-07-11 at 8:24am

At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...

by Kristi Marvin on 2025-07-10 at 8:31am

A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...

by Nicholas Alan Clayton on 2025-07-10 at 8:27am

At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...

by Nicholas Alan Clayton on 2025-07-09 at 12:57pm

Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....

by Nicholas Alan Clayton on 2025-07-09 at 8:22am

At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved