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

1c + 1/2W


Prospectus 11/20/21

Trust - $152,250,000, or $175,087,500 if the underwriter’s over-allotment option is exercised in full ($10.15 per unit 

18 months

we currently intend to concentrate our efforts in identifying businesses in the governance, risk, and compliance (“GRC”) and legal technology and software (collectively, “GRCL”) sectors.


Our strategic partner brings substantial investment infrastructure and institutional resources for underwriting and execution:
Victory Park Capital Advisors, LLC (“VPC”) is a registered investment advisor with the Securities and Exchange Commission (“SEC”) and founded in 2007. The firm’s institutional investor base is diversified geographically and includes sovereign wealth funds, insurance companies, financial institutions, foundations, endowments and family offices for which it has invested approximately $6.0 billion in over 115 transactions across North America, Europe, Latin America, Africa, Southeast Asia and Oceania. As part of those investments, VPC has provided financing to technology businesses backed by some of the world’s leading venture capital firms and has a long track record of executing debt and equity financing transactions with some of the largest global technology companies, including Square (U.S. NYSE:SQ), iZettle (Sweden, acquired by PayPal in 2018), and Zip Co (Australia ASX:Z1P). VPC’s investments have enabled portfolio companies to scale quickly and capture leading market positions.

Jeffrey C. Hammes serves as the Chairman of the company and is on the board of directors. Mr. Hammes served as the Chairman of Kirkland & Ellis LLP and Kirkland & Ellis International LLP (collectively, “K&E”) from 2010 until retiring in 2019. During his tenure as Chairman of K&E, K&E revenues grew from $1.4 billion to more than $4.0 billion, and net income rose from less than $700 million to more than $2.2 billion according to The American Lawyer. Under Mr. Hammes’ leadership, in 2019, K&E ranked first in total revenue and aggregate net income among the world’s top large law firms according to Bloomberg. That growth came across a variety of verticals where K&E has built leading franchises, including private equity and M&A, restructuring and litigation, a breadth of expertise that affords valuable insight into various product categories as one of the largest consumers of the tech-enabled services offered by companies in our target universe. In addition, K&E currently services more than 400 private equity clients around the world and Mr. Hammes maintains relationships at the senior levels of many of those firms. Mr. Hammes graduated from the University of Wisconsin-Madison and received a J.D. from Northwestern Pritzker School of Law. He is a member of the Illinois bar (inactive).
Adam Gerchen is the Chief Executive Officer of the company and serves on its board of directors. Mr. Gerchen is also co-founder, and since 2018, Chief Executive Officer of, Keller Lenkner, a law firm that has developed unique arbitration strategies and other innovations in mass actions. Additionally, in order to serve the large number of firm clients, and address the complexity of various areas of law, Mr. Gerchen also built a separate servicing business in 2018 that combines client origination, intake, customer relationship management, IT, and settlement administration. Previously, Mr. Gerchen co-founded and served as Chief Executive Officer of Gerchen Keller Capital (“GKC”) from 2013 until GKC’s sale to Burford Capital Limited (LSE: BUR) (“Burford”), the leading global finance firm focused on law, in 2016. Prior to its acquisition, GKC grew into the largest private investment and advisory firm focused exclusively on legal and regulatory risk, raising $1.4 billion of institutional capital. From 2016 to 2017, Mr. Gerchen also served as President of Burford. Across both organizations, products developed for and deployed into the legal sector included single-case litigation finance, portfolio funding, risk management & insurance, claim monetization, post-settlement, bankruptcy & insolvency, international arbitration, and patent and intellectual property. Mr. Gerchen graduated from Brown University and received his law degree from Harvard Law School.

November 18, 2020 08:00 PM Eastern Standard Time

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.