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IoT SPAC Four Leaf Acquisition files for a $65 million IPO
September 13, 2022
FORLU
Four Leaf Acquisition, a blank check company targeting the IoT space or adjacent spaces, filed on Tuesday with the SEC to raise up to $65 million in an initial public offering.

The Los Altos, CA-based company plans to raise $65 million by offering 6.5 million units at $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50. At the proposed deal size, Four Leaf Acquisition would command a market value of $82 million.

The company is led by CEO and Director Angel Orrantia, the President of corporate strategy services firm i2i and Partner and Advisor at full-service management accelerator Advantary LLC, and Chairman Bala Padmakumar, a Partner at Advantary LLC and CEO of May 2022 IPO Monterey Capital Acquisition (MCACU). The SPAC plans to target the Internet of Things (IoT) and adjacent technologies that target the IoT market.

Four Leaf Acquisition was founded in 2022 and plans to list on the Nasdaq under the symbol FORLU. The company filed confidentially on July 1, 2022. EF Hutton is the sole bookrunner on the deal.