Mount Logan Capital Inc. Schedules Earnings Release and Conference Call for First Quarter 2021 Financial Results
Mount Logan Capital Inc. (NASDAQ: LOGN) (the “Company”), a publicly traded special purpose acquisition company, today announced that it will release its financial results for the first quarter ended March 31, 2021, after the market closes on Thursday, May 13, 2021.
The Company will host a conference call on Friday, May 14, 2021 at 8:00 a.m. Eastern Time to discuss the financial results.
About Mount Logan Capital Inc.
Mount Logan Capital Inc. is a publicly traded special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company is led by an experienced management team with a successful track record of completing transactions and driving long-term value creation.
The Company’s management team is led by Chief Executive Officer and Chairman, David J. Fann, and Chief Financial Officer, John D. Waller. Mr. Fann has over 25 years of experience in the financial services industry, including as a Managing Director at Goldman Sachs & Co. and as a Partner at The Blackstone Group. Mr. Waller has over 20 years of experience in the financial services industry, including as a Managing Director at Goldman Sachs & Co. and as a Partner at The Blackstone Group.
The SPAC Process
A special purpose acquisition company (SPAC) is a publicly traded company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. SPACs are also known as “blank check companies” because they have no commercial operations and are formed with the sole purpose of raising capital through an initial public offering (IPO) to acquire an existing business.
The SPAC process begins with the formation of the SPAC and the completion of an initial public offering (IPO). The proceeds from the IPO are placed in a trust account and held in escrow until the SPAC completes a business combination. Once the SPAC has identified a target business, it will negotiate a definitive agreement with the target business and submit the agreement to its shareholders for approval. If the shareholders approve the transaction, the proceeds from the IPO will be released from escrow and used to fund the transaction.
Mount Logan Capital Inc.’s Business Combination Strategy
Mount Logan Capital Inc. is focused on identifying and completing a business combination with a target business in the technology, media, and telecommunications (TMT) sector. The Company is targeting businesses that have the potential to generate long-term value for its shareholders.
The Company is focused on businesses that have a proven track record of success, a strong management team, and a clear path to growth. The Company is also focused on businesses that have a competitive advantage in their respective markets and are well-positioned to capitalize on the growth opportunities in the TMT sector.
The Company is committed to a disciplined and rigorous process for evaluating potential target businesses. The Company’s management team has extensive experience in the TMT sector and is well-positioned to identify and evaluate potential target businesses.
Mount Logan Capital Inc.’s Financial Position
Mount Logan Capital Inc. has a strong financial position and is well-positioned to complete a business combination. The Company has raised $300 million in gross proceeds from its initial public offering and has approximately $290 million in cash and cash equivalents.
The Company has no debt and is well-capitalized to complete a business combination. The Company’s management team is focused on deploying the proceeds from the IPO in a disciplined and prudent manner to maximize long-term value for its shareholders.
Conclusion
Mount Logan Capital Inc. is a publicly traded special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company is led by an experienced management team with a successful track record of completing transactions and driving long-term value creation.
The Company has raised $300 million in gross proceeds from its initial public offering and has approximately $290 million in cash and cash equivalents. The Company has no debt and is well-capitalized to complete a business combination. The Company is focused on identifying and completing a business combination with a target business in the technology, media, and telecommunications (TMT) sector and is committed to a disciplined and rigorous process for evaluating potential target businesses.
The Company will release its financial results for the first quarter ended March 31, 2021, after the market closes on Thursday, May 13, 2021 and will host a conference call on Friday, May 14, 2021 at 8:00 a.m. Eastern Time to discuss the financial results.