But a chuckle might be warranted for a sponsor of blank check companies called LMF Acquisition Opportunities—or LMFAO for short—which filed for a $75 million initial public offering on Friday. If all goes as planned, underwriter Maxim Group, which has listed its fair share of checkered companies, will list LMFAO on public markets with a ticker, LMAO. Getty ImagesLike every other sponsor in the booming industry of listing blank check companies, or Spacs, LMFAO aspires to laugh its way all the way to the bank. With 248 Spac initial public offerings in 2020, and already 28 one week into 2021, according to SPAC Insider data, some sponsors might hope to stand out with a name. There’s Queen’s Gambit Growth Capital — a $225 million Spac filed Dec. 29 ostensibly titled for the hit Netflix NFLX miniseries about a chess prodigy.

Source: Forbes January 08, 2021 22:07 UTC