Logistics Innovation Technologies Corp.
LITTW
NASDAQ Global Market0.00
USD
+0.00
- -
CIK
0001848364
Return %
Stock
S&P500
1Y
-99.20
24.99
3Y
-99.88
70.19
5Y
-99.88
77.45
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- CIK
- 0001848364
- Similar Companies
- Business
- Logistics Innovation Technologies Corp. (NASDAQ:LITTW) operates as a blank check company, or special purpose acquisition company (SPAC), with no significant ongoing business operations; it focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, particularly targeting innovation in the logistics industry, including technology companies and traditional players enhancing supply chain efficiency for brokers, carriers, shippers, and warehouses. The company offers no current products or services beyond its pursuit of a business combination target, maintaining a trust account holding substantially all proceeds from its initial public offering for potential deployment in a transaction. Incorporated in 2021 and headquartered at 3495 Piedmont Road NE, One Piedmont Center Building 11, Suite 710, Atlanta, Georgia, it conducts no substantive operations or generates revenues while searching for a suitable target. In June 2021, Logistics Innovation Technologies Corp. completed a downsized initial public offering of 34.09 million units at $10 each, raising approximately $341 million, with units separating into Class A common stock and warrants commencing trading on August 2, 2021. The company, led by former UPS executive Alan Gershenhorn as Chairman and CEO and Isaac Applbaum as CFO, originally had a 24-month tenor to complete a deal, expiring around June 2023. In June 2023, it announced and confirmed the redemption of all outstanding Class A common shares at approximately $10.26 per share (before taxes and dissolution costs), with no redemption rights for warrants, marking its wind-down without identifying or consummating a business combination; public shareholders received pro rata distributions from the trust, while initial stockholders waived redemption rights. The LITTW warrants persist as outstanding securities traded on NASDAQ, reflecting the company's inactive post-liquidation status with minimal assets beyond sponsor promote interests.