Item 8.01 Other Events.
On March 9, 2021, Lerer Hippeau Acquisition Corp. (the "Company") consummated
its initial public offering (the "IPO") of 22,266,185 shares of Class A common
stock, par value $0.0001 per share (the "Shares"), including 2,266,185 shares
purchased pursuant to the partial exercise of the underwriters' over-allotment
option. The Shares were sold at a price of $10.00 per Share, generating gross
proceeds to the Company of $222,661,850.
Substantially concurrent with the closing of the IPO, pursuant to the Securities
Purchase Agreement, dated March 4, 2021, by and between the Company and LHAC
Sponsor LLC, the Company completed the private sale of an aggregate of 685,324
shares (the "Private Placement Shares"), at a purchase price of $10.00 per
Private Placement Share, generating gross proceeds to the Company of $6,853,240.
A total of $222,661,850, comprised of the proceeds from the IPO and the sale of
the Private Placement Shares, was placed in a U.S.-based trust account JPMorgan
Chase Bank, N.A., maintained by Continental Stock Transfer & Trust Company,
acting as trustee. An audited balance sheet as of March 9, 2021 reflecting
receipt of the proceeds upon consummation of the IPO and the sale of the Private
Placement Shares has been issued by the Company and is included as Exhibit 99.1
to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed with this Form 8-K:
Exhibit No. Description
99.1 Audited Balance Sheet, as of March 9, 2021.
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