Lakeshore Acquisition I Corp.’s $50 Million SPAC IPO

Harneys acted as counsel to Lakeshore Acquisition I Corp in relation to its listing on the Nasdaq Capital Market (NASDAQ) under the ticker symbol “LAAAU” beginning June 11, 2021.

Lakeshore Acquisition I Corp.’s initial public offering of 5,000,000 units is at an offering price of US$10.00 per unit.

Lakeshore Acquisition I Corp. is a blank check company, also commonly referred to as a special purpose acquisition company (SPAC). A SPAC is a newly incorporated company that goes to IPO to raise capital to fund a strategic acquisition 18-24 months later. Lakeshore Corp is incorporated as a Cayman Islands exempted company. Over the course of 2020, more than a third of SPACs were incorporated in either the Cayman Islands or the British Virgin Islands, according to SPAC Insider.

The Harneys team was led by Shanghai Associate Lily Zhang with support from co-head of the firm’s global Corporate group Raymond Ng (Picture) and Paralegal Bing Huang. This is the third IPO Lily and Raymond have advised on together this month.

 

Involved fees earner: Raymond Ng – Harneys; Lily Zhang – Harneys;

Law Firms: Harneys;

Clients: Lakeshore Acquisition I Corp.;

Sonia Carcano

Author: Sonia Carcano