Lakeshore Acquisition II Corp. (LBBB) Signs Standby Equity Purchase Agreement
by Kristi Marvin on 2023-04-11 at 4:41pm

Lakeshore II (NASDAQ:LBBB) filed an 8-K this afternoon announcing it has signed a Standby Equity Purchase Agreement (SEPA) with YA II PN, Ltd. (“Yorkville”) in relation to its proposed Business Combination with Nature’s Miracle, Inc.

Under the SEPA, the Company has the right to sell up to $60 million worth of common stock to Yorkville at any time during the commitment period, which begins six trading days after the Business Combination closes and ends on the earliest of two dates: (i) the first day of the month following the 36-month anniversary of the Effective Date or (ii) the date on which Yorkville has paid the full $60 million commitment.

Each sale of Common Shares by the Company to Yorkville (called an “Advance”) is subject to a maximum limit based on either the trading volume of the Company’s Common Shares on the Nasdaq Stock Market or a fixed amount, whichever is greater. The price of the Common Shares will be determined by the Company at the time of the sale based on either the Market Price or the VWAP during a Pricing Period. The Advances are subject to certain limitations, including that Yorkville cannot own more than 9.99% of the Company’s outstanding Common Shares at the time of the Advance or 19.99% of the Company’s outstanding Common Shares as of the date of the closing of the Business Combination.

In return, the Company has paid YA Global II SPV, LLC, a subsidiary of Yorkville, a structuring fee of $25,000, and it will pay a commitment fee of $300,000 by issuing Common Shares to Yorkville no later than ten trading days following the closing of the Business Combination.

Lakeshore II (NASDAQ:LBBB) announced its combination with indoor farming firm Nature’s Miracle on September 9, 2022.   The Upland, California-based company provides equipment and services for controlled environment agriculture (CEA), including greenhouse or vertical farm construction, grow lights and optimization.
Lakeshore Acquisition II Corp. (LBBB) Signs Standby Equity Purchase Agreement
Recent Posts
by Nicholas Alan Clayton on 2025-07-17 at 12:54pm

Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...

by Nicholas Alan Clayton on 2025-07-17 at 8:29am

At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...

by Kristi Marvin on 2025-07-16 at 5:33pm

Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...

by Nicholas Alan Clayton on 2025-07-16 at 8:18am

At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...

by Nicholas Alan Clayton on 2025-07-15 at 7:20pm

Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved