Streetbeat News

LCAA

L Catterton Asia Acquisition Corp

Open

14.70

Mkt cap

391M

Volume

107K

High

16.55

P/E Ratio

675.50

52-wk high

16.55

Low

12.10

Div yield

N/A

52-wk low

8.59

Lotus Technology Inc. ("Lotus Tech"), a global luxury electric vehicle maker, and L Catterton Asia Acquisition Corp ("LCAA") (NASDAQ:LCAA) have completed their business combination, with Lotus Tech becoming a U.S-listed company under the ticker "LOT" on Nasdaq starting February 23, 2024. LCAA, now a wholly owned subsidiary of Lotus Tech, is expected to be delisted from Nasdaq. This marks a significant milestone for Lotus Tech in its Vision80 strategy for global sustainable luxury mobility. The company will ring the Nasdaq opening bell on February 23, 2024, to celebrate its public listing.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 10:15 pm

Lotus Technology Inc. (Lotus Tech), a leading luxury electric vehicle maker, and L Catterton Asia Acquisition Corp (LCAA) announced the closing of their business combination, with Lotus Tech's ADS to start trading on Nasdaq under 'LOT' on February 23, 2024. The merger was approved by LCAA shareholders, and Lotus Tech aims to become a fully electric luxury mobility provider by 2027. The company has raised over $880 million in financing related to this transaction, marking a significant step in its growth and transition to electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:36 pm

Lotus Technology Inc., a luxury electric vehicle maker, has secured around $870 million in PIPE financing and convertible notes in preparation for its planned merger with L Catterton Asia Acquisition Corp (LCAA), a SPAC affiliated with the investment firm L Catterton. This financial move comes ahead of the expected completion of the business combination.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 6:35 am

L Catterton Asia Acquisition Corp has approved an extension of the termination date for one additional month to October 15.

Portfolio Pulse from Charles Gross

September 15, 2023 | 11:06 am

Lotus Technology Inc., a global luxury electric vehicle maker, announced that its subsidiary, Lotus Robotics, has been selected to license its intelligent driving technology and software to several leading automakers. This move is expected to boost Lotus Tech's technology-related revenues as part of its Vision80 business transformation strategy.

Portfolio Pulse from Charles Gross

September 10, 2023 | 3:11 pm

Lotus Technology, a British automaker, has unveiled its first electric hyper-GT vehicle, Emeya, which is expected to go into production in 2024. This is part of Lotus's plan to launch four new electric models over the next five years. Lotus is also planning a merger with L Catterton Asia Acquisition Corp (NASDAQ:LCAA) and is expected to become a public company with a pro forma enterprise value of $5.6 billion. Geely Automobile Holdings Ltd (OTCPK: GELYF) is the majority shareholder of Lotus.

Portfolio Pulse from Anan Ashraf

September 08, 2023 | 12:22 pm

Lotus Technology Inc., a luxury electric vehicle maker, has expanded its global retail network to 1931 stores, opening 24 new outlets in the first half of 2023. The company plans to further develop its global distribution network, targeting over 300 stores by the end of 2025. L Catterton Asia Acquisition Corp (NASDAQ:LCAA), a blank check company, is incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities.

Portfolio Pulse from Charles Gross

July 24, 2023 | 11:36 am

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.