Lion Capital-backed SPAC files for $250M IPO

Leo Holdings V Corp. filed for a NYSE IPO of 25.0 million units at $10.00 apiece and granted the underwriter a 45-day overallotment option to buy up to 3,750,000 additional units.

Each unit comprises one class A ordinary share and one-fifth of one redeemable warrant, with each whole warrant exercisable at $11.50 apiece.

The Lion Capital LLP-backed blank-check company will mainly target investment opportunities in the consumer sector.

The company's sponsor, Leo Investors V LP, will acquire 4,666,667 warrants at $1.50 apiece in a private placement expected to close concurrently with the IPO completion.

Leo Holdings V will deposit the bulk of the IPO and private placement proceeds into a segregated trust account in the U.S. at JP Morgan Chase Bank NA, with Continental Stock Transfer & Trust Co. as trustee.

Deutsche Bank Securities Inc. is the underwriter for the offering.