Item 5. Market for Registrant’s Common Equity
Item
5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities.
(a)
Market Information
Our
Units, Public Shares and Public Warrants are each traded on the Global Market tier of Nasdaq under the symbols “LPAAU,” “LPAA”
and “LPAAW,” respectively. Our Units commenced public trading on July 15, 2024, and our Public Shares and Public Warrants
commenced separate public trading on September 3, 2024.
(b)
Holders
On March 26, 2025, there were one holder of record of our Units, one
holder of record of our Class A Ordinary Shares, one holder of record of our Class B Ordinary Shares, and three holders of record of our
Warrants.
(c)
Dividends
We
have not paid any cash dividends on our Ordinary Shares to date and do not intend to pay cash dividends prior to the completion of our
initial Business Combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital
requirements and general financial condition subsequent to completion of our initial Business Combination. The payment of any cash dividends
subsequent to our initial Business Combination will be within the discretion of our Board of Directors at such time. In addition, our
Board of Directors is not currently contemplating and does not anticipate declaring any share dividends in the foreseeable future. Further,
if we incur any indebtedness in connection with our initial Business Combination, our ability to declare dividends may be limited by
restrictive covenants we may agree to in connection therewith.
(d)
Securities Authorized for Issuance Under Equity Compensation Plans
None.
(e)
Performance Graph
As
a smaller reporting company, we are not required to provide the information required by Regulation S-K Item 201(e).
(f)
Recent Sales of Unregistered Securities
Simultaneously
with the closing of the Initial Public Offering, pursuant to the Warrant Subscription Agreements, we completed the sale of an aggregate
of 6,000,000 Private Placement Warrants to the Sponsor and Cantor in the Private Placement at a purchase price of $1.00 per Private Placement
Warrant, generating gross proceeds to us of $6,000,000. The Private Placement Warrants are identical to the Public Warrant sold in the
Initial Public Offering, except as otherwise disclosed in the IPO Registration Statement. No underwriting discounts or commissions were
paid with respect to such sale. The issuance of the Private Placement Warrants was made pursuant to the exemption from registration contained
in Section 4(a)(2) of the Securities Act.
(g)
Use of Proceeds from the Initial Public Offering
For
a description of the use of proceeds generated in our Initial Public Offering and Private Placement, see Part I, Item 2 of our Quarterly
Report on Form 10-Q for the quarterly period ended September 30, 2024, as filed with the SEC on November 13, 2024. There has been no
material change in the planned use of proceeds from our Initial Public Offering and Private Placement as described in the Registration
Statement. The specific investments in our Trust Account may change from time to time.
(h)
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
There
were no such repurchases of our equity securities by us or an affiliate during the fourth quarter of the fiscal year covered by the Report.
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Item
6. [Reserved]