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Denver, CO – 
Lights Acquisition Corporation (the “Company”) announced today that it priced
its initial public offering of 10,000,000 units at $10.00 per unit. The units
will be listed on the Nasdaq Capital Market (“Nasdaq”) and will begin trading
tomorrow, Thursday, June 24, 2021, under the ticker symbol “NLITU”. Each unit
consists of one share of the Company’s Class A common stock and one-half of one
redeemable warrant. Each whole warrant entitles the holder thereof to purchase
one share of Class A common stock at a price of $11.50 per share. Only whole
warrants are exercisable and will trade. Once the securities comprising
the units begin separate trading, shares of the Class A common stock and warrants
are expected to be listed on Nasdaq under the symbols “NLIT” and “NLITW”
respectively.
The Company is a newly organized blank check company
formed for the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business combination
with one or more businesses. The Company has not selected any specific business
combination target and has not, nor has anyone on its behalf, initiated any
substantive discussions, directly or indirectly, with any business combination
target. While the Company may pursue an initial business combination target in
any business, industry, or geographical location, the Company intends to focus its
search on businesses in the cannabis industry that are compliant with all
applicable laws and regulations within the jurisdictions in which they are
located or operate and, in particular, the Company will not invest in, or
consummate a business combination with, a target business that the Company determines
has been operating, or whose business plan is to operate, in violation of U.S.
federal laws, including the U.S. Controlled Substances Act. The Company is led
by Co-Chief Executive Officer, John Darwin and Co-Chief Executive Officer, Joshua
Mann.
EF Hutton, division of Benchmark Investments, LLC, is
acting as the sole bookrunner for the offering. The Company has granted the
underwriter a 45-day option to purchase up to an additional 1,500,000 units at
the initial public offering price to cover over-allotments, if any. Nelson Mullins Riley & Scarborough LLP
acted as counsel to the Company and Loeb & Loeb LLP acted as counsel for EF
Hutton.
The offering is being made only by means of a prospectus.
Copies of the prospectus may be obtained, when available, from EF Hutton,
division of Benchmark Investments LLC, Attn: Syndicate Department, 590 Madison Ave, 39th Floor, New York, New
York 10022, by telephone at (212) 404-7002, by fax
at (646) 861-4697, or by email at syndicategroup@efhuttongroup.com.
A registration statement relating to these securities has
been filed with, and declared effective by, the Securities and Exchange
Commission (“SEC”) on June 23, 2021. 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 an offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute
“forward-looking statements,” including with respect to the initial public
offering. No assurance can be given that the offering discussed above will be
completed on the terms described, or at all. Forward-looking statements are
subject to numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of the Company’s
registration statement and preliminary prospectus for the offering filed with
the SEC. Copies are available on the SEC’s website, www.sec.gov. The
Company undertakes no obligation to update these statements for revisions or
changes after the date of this release, except as required by law.
Contact
John Darwin
info@luminouscap.ca
(510)
323-2526
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