Lamar Partnering has pulled the plug on its $300 million SPAC. Here’s the SEC filing.
LAMAR PARTNERING CORPORATION
5321 Corporate Boulevard
Baton Rouge, Louisiana 70808
June 21, 2022
VIA EDGAR
U.S. Securities and Exchange Commission
Division of Corporation Finance
100 F Street, NE
Washington, D.C. 20549
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Re: |
Lamar Partnering Corporation |
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Request for Withdrawal of Registration Statement on Form S-1 |
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Registration No. 333-255053 |
Ladies and Gentlemen:
On April 6, 2021, Lamar Partnering Corporation (the “Company”) filed a Registration Statement on Form
S-1 (File No. 333-255053) (as amended, together with the exhibits thereto, the “Registration Statement”) with the Securities and Exchange Commission (the “Commission”).
Pursuant to Rule 477 under the Securities Act of 1933, as amended (the “Securities Act”), the Company hereby requests that the Commission consent to the withdrawal of the Registration Statement effective as of the date hereof. The Company is seeking withdrawal of the Registration Statement because it no longer wishes to conduct a public offering of securities at this time. The Registration Statement has not been declared effective by the Commission, and no securities have been issued or sold under the Registration Statement.
The Company acknowledges that no refund will be made for fees paid to the Commission in connection with the filing of the Registration Statement. However, in accordance with Rule 457(p) under the Securities Act, the Company requests that all fees paid to the Commission in connection with the filing of the Registration Statement be credited for future use.
Please direct any questions or comments regarding this correspondence to our counsel, Megan Foscaldi of Locke Lord LLP, at (617) 239-0282. Thank you for your assistance in this matter.
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Very truly yours, |
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Lamar Partnering Corporation |
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By: |
/s/ Joseph O’Brien |
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Name: |
Joseph O’Brien |
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Title: |
Chief Financial Officer |
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cc: |
Megan Foscaldi, Esq. and Rob Evans, Esq. |
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Locke Lord LLP |
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cc: |
Ilir Mujalovic, Esq. and William B. Nelson, Esq. |
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Shearman & Sterling LLP |
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Billboard Insider’s take: The US SPAC market is in trouble due to terrible IPO performance, high costs, some bad actors and increased regulations. There have been only 67 successful SPAC IPO’s in 2022 versus 613 in 2021. Lamar Partnering joins a growing list of SPAC sponsors who are cancelling planned IPO’s. This is a good thing. It keeps Lamar’s management focused on growing a best of breed North American roadside billboard business without the distraction of trying to operate an international out of home business or ad technology business or distributed energy and wireless business or digital addressable screen network business.
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