Appleby Advises Leapfrog Acquisition Corporation in Its USD143.7M Initial Public Offering
Appleby is pleased to announce that it acted as Cayman Islands legal counsel to Leapfrog Acquisition Corporation (Leapfrog Acquisition) in connection with the closing of its initial public offering of 14,375,000 units, which includes the exercise in full by the underwriters of their overallotment option to purchase 1,875,000 units. The offering was priced at $10.00 per unit, generating total gross proceeds of $143,750,000. The units commenced trading on December 5, 2025, on the Global Market tier of The Nasdaq Stock Market LLC (Nasdaq) under the symbol LFACU.
Each unit sold in the offering consists of one Class A ordinary share and one half of one redeemable warrant with a strike price of $11.50 per ordinary share exercisable within 5 years of Leapfrog Acquisition completing an initial business combination. Once the securities comprising the units begin separate trading, the ordinary shares and warrants are expected to be listed on the Global Market tier of Nasdaq under the symbols “LFAC” and “LFACW,” respectively.
Appleby advised on all Cayman Islands legal aspects of the transaction, displaying the firm’s expertise in SPAC IPOs and capital markets regulation and reinforcing its established track record.
The team was led by Counsel Alexandra Low, with Partner Simon Raftopoulos, Paralegal Sophia Cunningham and other members of the corporate team.
Appleby continues to play a key role in major SPAC and public-market matters worldwide.
