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LF Capital Acquisition Corp. II Announces Approval of Proposal and Amendment to Charter
NEW YORK--(BUSINESS WIRE)-- On June 26, 2023, LF Capital Acquisition Corp. II, a Delaware corporation (the “Company”) (NASDAQ: LFAC), convened a special
About this update from Leapfrog Acquisition Corporation
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nOn June 26, 2023, LF Capital Acquisition Corp. II, a Delaware corporation (the “Company”) (NASDAQ: LFAC), convened a special meeting of stockholders (the “Special Meeting”) to propose an amendment (the “Charter Amendment”) to the Company’s Amended & Restated Certificate of Incorporation (the “Charter”) to extend the date by which the Company has to consummate a business combination from August 19, 2023 to November 19, 2023 (the “Extended Date”), by increasing the number of one-month extensions of the deadline to complete the initial business combination from six to nine (the “Extensions”) by depositing into the trust account established in connection with the Company’s initial public offering (the “IPO”) for each Extension beginning July 19, 2023 the lesser of (i) $200,000 or (ii) $0.03 per share of the Company’s Class A common stock (the “Common Stock”), par value $0.0001 per share, sold in the IPO, per Extension (the “Charter Amendment Proposal”). The Charter Amendment Proposal is described in more detail in the Company’s definitive proxy statement (the “Proxy Statement”), which was filed with the Securities and Exchange Commission (the “SEC”) on May 12, 2023, as supplemented by supplemental proxy statements filed with the SEC as of June 2, 2023 and June 13, 2023.\n\n\nA total of 15,042,723 shares of Common Stock, representing approximately 84.66% of the outstanding shares of Common Stock entitled to vote at the Special Meeting, were present in person or by proxy, constituting a quorum. The stockholders voted upon and approved the Charter Amendment Proposal, with 14,193,359 votes in favor, 849,364 votes against, and with no abstentions. Accordingly, the Company amended its Charter and filed the Charter Amendment with the Secretary of State of the State of Delaware on June 27, 2023.\n\n\nRedemption of Shares of Common Stock\n\n\nIn connection with the approval and amendment of the Company’s Charter pursuant to the Charter Amendment Proposal, the Company was required to permit its public shareholders to redeem their shares of Common Stock. Of the 11,383,419 shares of Common Stock outstanding with redemption rights, the holders of 5,599,025 shares of Common Stock elected to redeem their shares at a per share redemption price of approximately $10.64. As a result, approximately $59,593,408.93 will be r...