LTGRU Long Table Growth Corp.
Executive Summary
Long Table Growth Corp., a blank check company (SPAC), has priced its initial public offering of 15,000,000 units at $10.00 per unit, raising $150 million in gross proceeds. The offering was filed under a 424B4 prospectus dated June 3, 2026, with the units approved for listing on Nasdaq under the symbol 'LTGRU'. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. The sponsor paid $25,000 for founder shares representing 25% of post-offering shares, creating immediate and substantial dilution for public investors. The SPAC has 18 months to complete an initial business combination or it will liquidate.
Key Financial Metrics
Actionable Insight
This is a standard SPAC IPO with no identified acquisition target. The immediate and substantial dilution (~28.3% at no redemptions) to public shareholders from founder shares is typical but notable. Monitor for future announcements regarding a business combination target, and track shareholder redemptions and warrants trading. Key catalysts: 18-month deadline (Dec 2027) and any extension votes.
Key Facts
- IPO of 15,000,000 units at $10.00/unit raised $150 million in gross proceeds.
- Each unit consists of one Class A ordinary share and one-half of one redeemable warrant at $11.50 per share.
- Sponsor (Long Table Growth Sponsor LLC) holds 5,750,000 Class B founder shares purchased for $25,000 (~$0.004/share) representing 25% of post-offering shares.
- Underwriter: Santander US Capital Markets LLC (sole book-running manager).
- Underwriting discounts and commissions of approximately $4.75 million including $4.5 million deferred.
- Proceeds of $150.75 million placed in trust account ($10.05 per unit).
- 18-month deadline to complete initial business combination or liquidate.
- Sponsor committed to purchase 3.6 million private placement warrants at $1.00 each ($3.6 million).
- Immediate dilution for public shareholders: pro forma net tangible book value per share of $7.17 (assuming no redemptions) vs. $10.00 offering price.
- Units approved for Nasdaq listing under symbol LTGRU.
Financial Impact
IPO raised $150 million gross; after underwriting discounts/commissions (~$4.75M) and expenses (~$750K), net proceeds of ~$145.25M. Trust account holds $150.75M (including private placement proceeds). Offering costs and expenses allocated to working capital during search period.
Risk Factors
- No target selected; risk of liquidation if no deal within 18 months.
- Significant dilution from founder shares (25% stake for $25,000).
- Public shareholders may face redemption rights limitations (15% cap per holder).
- Sponsor and insiders may have conflicts of interest in pursuing a deal.
- Warrants may expire worthless if no business combination completed.
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B4 Filing (Primary) | 0001213900-26-065344 |
| Document: 0001213900-26-065344-index-headers.html | 0001213900-26-065344 |
| Document: 0001213900-26-065344-index.html | 0001213900-26-065344 |
| Document: 0001213900-26-065344.txt | 0001213900-26-065344 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 5, 2026
11d ago
|
8-K
| $10.02 $10.01 | ▼ −0.10% | ▼ −2.21% | $10.02 (+0.00%) |
|
Jun 5, 2026
11d ago
|
Press Release
| $10.01 $10.01 | · 0.00% | ▼ −0.57% | $10.02 (+0.10%) |
|
Jun 4, 2026
12d ago
|
424B4
| $10.01 $10.01 | · 0.00% | ▼ −0.57% | $10.02 (+0.10%) |
|
Jun 3, 2026
13d ago
|
Press Release
| $10.01 $10.02 | ▲ +0.10% | ▲ +2.65% | $10.02 (+0.10%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access