Leo Holdings Corp. II
LHC · NYSE
NO ACTION REQUIRED
Nothing left to do
The cash went back to shareholders and the company wound up. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
In plain terms
- What it is
- A SPAC from Owl Creek Asset Management, L.P., listed on NYSE in January 2021.
- What it's doing now
- It never completed a purchase. The company wound up and the cash in the account went back to shareholders — the ordinary ending when a SPAC runs out of time. No agreed deal for it is on file with us, so we cannot say whether one was ever announced and later fell through.
- What you should know
- This SPAC has finished. The cash was paid back to shareholders and the company wound up, so there is nothing left to claim — the money went where the charter said it would.
At a glance
- Where it stands
- Liquidated
- Deal
- none — it wound up and returned the cash instead
- Industry
- no filing we hold states a sector this SPAC restricted its search to
- Deal value
- no deal to value — it wound up instead
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 11 January 2021
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 100 WILSHIRE BOULEVARD, LOS ANGELES, CA, 90401
- registered in the Cayman Islands
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- ALTMAN JEFFREY A · Masinter Mark (Director) · Darwent Robert (Director)
- Listed securities
- LHC common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
At the 9 January 2023 event.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
What has happened, and what is coming
2 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 11 January 2021IPOpassed
IPO size not on file
redemption rate not stated in the filing
Who has already taken their money back
1 filed eventEach time shareholders were offered their cash back, some took it. Heavy cash-outs drain the account and shrink the number of shares left — whatever remains has to carry the deal.
Worst single event
—
no filing states a pre-event share count
Shares redeemed, all events
32.92M
across every filed redemption event
Every figure below is stated in the linked filing; nothing here is estimated.
- Jan 9, 2023Extensionno rate stated
The score
deterministic, from filed fieldsLHC is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
Leo Holdings Corp. II was a blank-check company whose common stock traded on the New York Stock Exchange under the ticker LHC. The company priced its initial public offering on January 11, 2021, under SEC file number 333-249676, pursuant to a registration statement on Form S-1 filed October 26, 2020, with the prospectus filed as 424B4 under accession 0001193125-21-006118. The registrant self-described as a blank-check company in that prospectus and was classified under SEC SIC industry code 3663 (Radio & tv Broadcasting & Communications Equipment). The company subsequently liquidated, returning trust cash to shareholders, with the removal of its Class A Ordinary Shares and Units established by Form 25 filed December 4, 2023. The common ticker LHC appears on the cover page of a Form 8-K filed November 21, 2023.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
A $240,000 deposit is substantial in absolute terms but buys only one month, after which eleven more months can be added without any further shareholder vote — and the notice discloses no deposit for those later months. That removes eleven potential redemption windows in a single approval. Paired with elimination of the redemption limitation, the structure lets the sponsor keep searching for nearly a year while holders lose their recurring exit. Leo II ultimately liquidated.
The registered ceiling is 57,026,904 shares plus 16,041,667 warrants — the warrant leg is roughly 28% of the share leg and is a separate claim on the equity. Two merger subs, one a corporation and one an LLC, indicate a two-step merger structure of the kind used to reach a particular tax treatment. The domestication is a separate vote and a precondition to closing. No vote date is stated in this portion.
This version sets no dilution ceiling: both the share and warrant figures on the cover are blanks, filled in only in the amendment that follows. The two merger subs, one a corporation and one an LLC, indicate a two-step merger of the kind used to reach a particular tax treatment. The domestication is a precondition to closing. No vote date is stated.
This version sets no dilution ceiling: both the share and warrant figures on the cover are blanks, and they remain blank through the following amendment before being filled in later in this registration statement's life. The domestication is a precondition to closing. No vote date is stated.
This is the baseline of the Leo / World View registration and it fixes no dilution ceiling — both the share and warrant figures are blanks, and they stay blank through the next two amendments. The two merger subs, a corporation and an LLC, indicate a two-step merger of the kind used to reach a particular tax treatment. The domestication is a stated precondition to closing. No vote date appears.
The table of contents of this document is headed 'PIONEER MERGER CORP. ANNUAL REPORT ON FORM 10-K' - a different registrant's name inside Leo Holdings Corp. II's own annual report, which a reader checking provenance would take as evidence of a mis-served document. The rest of the filing is consistently Leo Holdings. The report states the trust only as 'initially anticipated to be $10.00 per public share' and gives no total and no completion date, so neither was recorded; the founder block is a quarter of the post-IPO float.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
- What changed vs 2023-08-14deadline 2023-09-12 → 2023-11-12
combination deadline, sponsor loans outstanding, trust account +11 moved · 3 with no prior record of ours
- Combination deadline
- 2023-09-122023-11-12
- Sponsor loans outstanding
- not previously extracted$240K
- Trust account
- $380.4M · unchanged
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as 61 days later than the previous record.
The clause …“doubt about our ability to continue as a going concern. An initial business combination was not consummated by November 12, 2023, so there will be a mandatory liquidation and subsequent dissolution of the Company. No”…
The clause …“time of the initial public offering of the Company. To date, the Company has borrowed $ 240,000 under the Second Extension Funding Promissory Note, which funds have been deposited into the Trust Account. In connection with the vote to”…
The clause “1 Prepaid expenses 31,640 16,232 Total current assets 32,231 16,823 Investments held in Trust Account — 380,360,382 Cash held in Trust Account 49,753,112 — Total Assets $ 49,785,343 $ 380,377,205 Liabilities, Class A Ordinary Shares”…
The clause …“are available to be issued. In connection with the Company’s assessment of going concern considerations in accordance with FASB accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Owl Creek Asset Management, L.P.named as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1284 tracked SPACs (23%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
Unit: U = S + W/4 · 100.0% of the $10 unit
from 424B4 0001193125-21-006118
Trading & liquidity
Company profile
Directors & officers
- ALTMAN JEFFREY A10% owner
- Masinter MarkDirector
- Darwent RobertDirector
- Agarwal NaveenDirector
- BUSH LORI HDirector
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
8 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- METEORA CAPITAL, LLCwith 1 other reporting person on the same schedule15.4% · SC 13GApr 11, 2023 stale
- INTEGRATED CORE STRATEGIES (US) LLCwith 5 other reporting persons on the same schedule3.6% · SC 13G/AFeb 4, 2022 stale
- GOLDMAN SACHS GROUP INCwith 1 other reporting person on the same schedule0.8% · SC 13G/AFeb 13, 2023 stale
- NOMURA HOLDINGS INCwith 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 14, 2024 stale
- BOOTHBAY FUND MANAGEMENT, LLCwith 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 13, 2024 stale
- ARISTEIA CAPITAL LLC0.0% · SC 13G/AFeb 12, 2024 stale
- Leo Investors II Limited Partnershipwith 1 other reporting person on the same schedule0.0% · SC 13G/AJan 26, 2024 stale
- GLAZER CAPITAL, LLCwith 1 other reporting person on the same schedule0.0% · SC 13G/ADec 11, 2023 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
39 full SEC filing texts archived — searchable, never lost.
- Vault note — LHC (Leo Holdings Corp. II)
vault-note · /vault/tickers/LHC
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail2 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 3663 (Radio & Tv Broadcasting & Communications Equipment). The screen found it by filing SHAPE instead — S-1 2020-10-26 → 8-A12B 2021-01-07 → 424B4 2021-01-11 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 3663 + self-described blank check in 424B4 0001193125-21-006118; 424B 0001193125-21-006118 priced 2021-01-11 under S-1 0001193125-20-277126 (file 333-249676, an offering for cash); common ticker LHC off 8-K 0001193125-23-281487 (2023-11-21); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-249676, which belongs to S-1 0001193125-20-277126 (2020-10-26) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2021-01-11). Ending PROVEN, not inferred: LIQUIDATED per Form 25 0000876661-23-000936 (2023-12-04) — Form 25 filed under 17 CFR 240.12d2-2(a)(1) — the rule for a class "called for redemption" or "redeemed or paid at maturity/retirement". For a SPAC that class is the public shares and that redemption is the trust going back (class: Class A Ordinary Shares, Units, Each consisting of one CLass A ordinary share and one-quarter of one redeemable warrant.). No wind-up press release was readable on the registrant's own file, so the per-share figure is not stored.. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "Owl Creek Asset Management, L.P." (SEC CIK 0001313756) sourced from Form 3 reportingOwner (10% owner) acc 0000902664-23-000424.