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Nature's Miracle, a leader in Controlled Environment Agriculture, has announced a definitive merger with Lakeshore Acquisition II Corp. (Nasdaq: LBBB). The merger, valued at approximately $265 million, is expected to finalize in Q1 2023 and will allow Nature's Miracle to list on Nasdaq as Nature's Miracle Holding Inc.. Nature's Miracle provides integrated solutions for indoor farming and has begun establishing manufacturing operations in North America. This strategic partnership aims to enhance the development of commercial greenhouses across the U.S. and Canada.
Lakeshore Acquisition II Corp. (NASDAQ: LBBBU) announced that its unit holders can separately trade the ordinary shares, rights, and warrants starting on April 14, 2022. The ordinary shares, rights, and warrants will trade under the symbols LBBB, LBBBR, and LBBBW on NASDAQ, while units will continue under LBBBU. The Company is a blank check firm aiming for business combinations but will not engage with companies based in China, Hong Kong, or Macau. This change allows for greater flexibility in trading these components.
Lakeshore Acquisition II Corp. successfully closed its IPO on March 11, 2022, raising $69 million by selling 6,900,000 units at $10.00 each. Each unit comprises one ordinary share, a half warrant, and a right to 1/10 of an ordinary share. The units began trading on NASDAQ under the symbol 'LBBBU' on March 9, 2022. Proceeds will be used for their initial business combination. Network 1 Financial Securities managed the offering, with Maxim Group LLC as underwriter and financial advisor.
Lakeshore Acquisition II Corp. announced the pricing of its initial public offering (IPO) of 6,000,000 units at $10.00 per unit. Each unit comprises one ordinary share, one-half of a redeemable warrant, and a right to receive 1/10 of an ordinary share. The IPO is expected to trade on NASDAQ under the ticker symbol 'LBBBU' starting March 9, 2022, with the offering closing on March 11, 2022. Network 1 Financial Securities, Inc. is the book-running manager, and the underwriters have an option for an additional 900,000 units. The registration statement was declared effective by the SEC on March 8, 2022.
