NEW YORK--(BUSINESS WIRE)--Lazard Growth Acquisition Corp. I today announced the closing of its initial public offering of 57,500,000 units, including 7,500,000 units issued upon the exercise in full by the underwriter of its option to purchase additional units, at a price of $10.00 per unit. The units are listed on Nasdaq and trade under the ticker symbol “LGACU”. Each unit consists of one Class A ordinary share and one-fifth of one redeemable warrant, with each whole warrant exercisable for one Class A ordinary share at a price of $11.50 per share, subject to adjustment. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “LGAC” and “LGACW”, respectively.

The Company is a newly organized blank check company, incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company believes the growth-oriented subsectors of the healthcare, technology, energy transition, financial and consumer sectors present particularly attractive investment opportunities, although it will not be limited to a particular industry or geographic region in its identification and acquisition of a target company.

Goldman Sachs & Co. LLC served as sole book-running manager for the offering, and Lazard Frères & Co. LLC served as financial advisor to the Company.