NEW YORK, NY, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Launch Two Acquisition Corp. (the “Company”) announced today the closing of its initial public offering of 23,000,000 units, which includes 3,000,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full. The offering was priced at $10.00 per unit, resulting in gross proceeds of $230,000,000.

The Company’s units began trading on October 8, 2024 on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “LPBBU.” Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “LPBB” and “LPBBW,” respectively.

Of the proceeds received from the consummation of the initial public offering (including the exercise of the over-allotment option) and a simultaneous private placement of warrants, $231,150,000 (or $10.05 per unit sold in the offering) was placed in trust.

The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution. The Company’s primary focus, however, will be on technology and software infrastructure companies whose products and services target financial services, real estate and asset management companies. The Company will pursue completing a business combination with an established business of scale poised for continued growth, led by a highly regarded management team.

The Company’s management team is led by James J. McEntee III, its Chief Executive Officer and Chairman of the Board of Directors (the “Board”), and Jurgen van de Vyver, its Chief Financial Officer. The Board also includes Lynn Eisenhart, Jeffrey M. Shanahan, and Alfred J. Pierce III.

Cantor Fitzgerald & Co. acted as sole book-running manager for the offering.

A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on October 7, 2024. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.