DNMR - Richard Hendrix' latest SPAC Live Oak Mobility stages $220M IPO

The latest SPAC from Live Oak, which took bioplastics maker Danimer Scientific (DNMR) public last year, began trading Tuesday after staging $220M in initial public offering.Live Oak Mobility Acquisition ((LOKM)) priced 22M investment units at $10 apiece. Each consist of one Class A share and 0.2 warrant, entitling the holder to purchase a second share in the future at $11.50.Units will trade on the New York Stock Exchange under the ticker “LOKM.U,” with shares and warrants later listing separately as “LOKM” and “LOKM WS,” respectively.CEO Richard Hendrix-led Live Oak Mobility Acquisition says it is currently focused on business combinations in mobility and motion technology sectors, that could potentially see the acquisition of emerging technology company.Underwriters' overallotment is an additional 3.3M units while the offering will expire on Mar. 4, 2021.Danimer stock has jumped to $38.15 from $9.60 since listing, outperforming benchmark S&P 500 index with 287.31% return in 6 months.

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Richard Hendrix' latest SPAC Live Oak Mobility stages $220M IPO