This is a standard SPAC IPO with no identified acquisition target. The immediate and substantial dilution (~28.3% at no redemptions) to public shareholders from founder shares is typical but notable. Monitor for future announcements regarding a business combination target, and track shareholder redemptions and warrants trading. Key catalysts: 18-month deadline (Dec 2027) and any extension votes.
Executive Summary
Long Table Growth Corp., a blank check company (SPAC), has priced its initial public offering of 15,000,000 units at $10.00 per unit, raising $150 million in gross proceeds. The offering was filed under a 424B4 prospectus dated June 3, 2026, with the units approved for listing on Nasdaq under the symbol 'LTGRU'. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. The sponsor paid $25,000 for founder shares representing 25% of post-offering shares, creating immediate and substantial dilution for public investors. The SPAC has 18 months to complete an initial business combination or it will liquidate.
Key Financial Metrics
Key Facts
- IPO of 15,000,000 units at $10.00/unit raised $150 million in gross proceeds.
- Each unit consists of one Class A ordinary share and one-half of one redeemable warrant at $11.50 per share.
- Sponsor (Long Table Growth Sponsor LLC) holds 5,750,000 Class B founder shares purchased for $25,000 (~$0.004/share) representing 25% of post-offering shares.
- Underwriter: Santander US Capital Markets LLC (sole book-running manager).
- Underwriting discounts and commissions of approximately $4.75 million including $4.5 million deferred.
- Proceeds of $150.75 million placed in trust account ($10.05 per unit).
- 18-month deadline to complete initial business combination or liquidate.
- Sponsor committed to purchase 3.6 million private placement warrants at $1.00 each ($3.6 million).
- Immediate dilution for public shareholders: pro forma net tangible book value per share of $7.17 (assuming no redemptions) vs. $10.00 offering price.
- Units approved for Nasdaq listing under symbol LTGRU.
Financial Impact
IPO raised $150 million gross; after underwriting discounts/commissions (~$4.75M) and expenses (~$750K), net proceeds of ~$145.25M. Trust account holds $150.75M (including private placement proceeds). Offering costs and expenses allocated to working capital during search period.
Risk Factors
- No target selected; risk of liquidation if no deal within 18 months.
- Significant dilution from founder shares (25% stake for $25,000).
- Public shareholders may face redemption rights limitations (15% cap per holder).
- Sponsor and insiders may have conflicts of interest in pursuing a deal.
- Warrants may expire worthless if no business combination completed.
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B4 Filing (Primary) | 0001213900-26-065344 |
| Document: 0001213900-26-065344-index-headers.html | 0001213900-26-065344 |
| Document: 0001213900-26-065344-index.html | 0001213900-26-065344 |
| Document: 0001213900-26-065344.txt | 0001213900-26-065344 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 5, 2026 20w ago | 8-K | $10.02 $10.03 | ▲ +0.10% | ▼ −1.53% | $10.18 (+1.60%) |
Jun 5, 2026 20w ago | Press Release | $10.01 $10.03 | ▲ +0.20% | ▼ −1.66% | $10.18 (+1.70%) |
Jun 4, 2026 20w ago | 424B4 | $10.01 $10.03 | ▲ +0.20% | ▼ −1.66% | $10.18 (+1.70%) |
Jun 3, 2026 20w ago | Press Release | $10.01 $10.03 | ▲ +0.20% | ▲ +1.57% | $10.18 (+1.70%) |
US Market Status
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