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 Public Units began trading on the Nasdaq under the symbol “LCAPU” on August 14, 2020. On October 9, 2020, we announced that holders of our
units could elect to separately trade the Class A Common Stock and Public Warrants included in the units, or continue to trade the units without separating them. On October 8, 2020, the Class A Common Stock and Public Warrants began trading on
Nasdaq under the symbols “LCAP” and “LCAPW,” respectively. Each whole warrant entitles the holder to purchase of one share of Class A Common Stock at an exercise price of $11.50 per share. Warrants may only be exercised for a whole number of
shares of Class A Common Stock and will become exercisable on the later of 30 days after the completion of our Business Combination or 12 months from the IPO Closing Date. Our warrants expire five years after the completion of our Business
Combination or earlier upon redemption or liquidation, as described in “Item 1. Business.”
46
Table of Contents
(b)
Holders
As of March 3, 2022, there were nine holders of record of our units, one holder of record of our separately traded shares of Class A Common
Stock and one holder of record of our separately traded Public Warrants.
(c)
Dividends
We have not paid any cash dividends on our Class A Common Stock or Class B Common Stock to date and do not intend to pay cash dividends in the
foreseeable future. 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 Business Combination. The payment of
any cash dividends subsequent to our Business Combination will be within the discretion of our Board at such time. In addition, our Board is not currently contemplating and does not anticipate declaring any stock dividends in the foreseeable
future. Further, if we incur any indebtedness in connection with our 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)
Recent Sales of Unregistered Securities; Use of Proceeds from Registered Offerings
None.
ITEM 6.
[RESERVED]
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.