Deep Lake Capital Acquisition Corp. (DLCAU) Prices Upsized $180M IPO

Deep Lake Capital Acquisition Corp. announced the pricing of its upsized $180 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “DLCAU” Wednesday, January 13.

The new company aims to combine with a fintech business with a platform that offers the opportunity for continuous innovations. Deep Lake is led by Chairman and CEO Mark Lavelle, President Gary Marino and CFO Michael Cyrus.

Total SPAC deal count for 2021 year-to-date is now 37 with $9.6 billion in gross proceeds raised. This offering is expected to close on Friday, January 15.

Citigroup Global Markets Inc. and Jefferies LLC are acting as the joint book-running managers for the offering. Weil, Gotshal & Manges LLP is serving as Issuer’s Counsel with Latham & Watkins LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.