Leapfrog Acquisition Corporation (LFACW) Warrant
Each LFACW warrant gives the holder the right to buy 1 share of Leapfrog Acquisition Corporation at $11.50 per share, for five years after the company completes its merger. The stock last closed at $10.07, below the strike, so the warrant is out of the money. Leapfrog Acquisition Corporation has a market value of about $197.77M. Leapfrog Acquisition Corporation is a SPAC (no deal announced yet). It must complete a deal by December 8, 2027 or the warrants expire worthless. There are 7.19M listed warrants; exercising all of them would add 36.6% to the 19.64M shares outstanding.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- merger + 5 years
- Redemption trigger
- $18.00
- Cashless exercise
- no
- Break-even stock price
- $11.78
From the issuer's S-1/A (2025-11-10).
Company and stock
- Company
- Leapfrog Acquisition Corporation
- Underlying stock
- LFAC
- Share price
- $10.07
- Market cap
- $197.77M
- Shares outstanding
- 19.64M
- Range since Jan 2026
- $9.88 – $10.09
- Change since Jan 2026
- +2%
- Value of all listed warrants
- $2.01M (1.0% of market cap)
- Industry
- Blank check company (SPAC)
- Head office
- Summit, NJ
- Incorporated in
- Cayman Islands
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). Industry and head office are as the company reports them to the SEC. All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.2800
- Price / model
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Dilution
- Shares outstanding
- 19.64M
- Listed warrants
- 7.19M
- Dilution if all exercised
- 36.6%
Warrant count from filing iXBRL: PublicWarrantsMember.
SPAC deal
- Status
- no deal announced yet
- Target
- —
- Deal announced
- —
- Deadline
- 2027-12-08
- Latest possible deadline
- 2027-12-08
- Trust per share
- $10.20
- Sponsor
- LeapFrog Partners LLC
- Sponsor's earlier SPACs
- 0 (0 closed a deal)
- Chance of a deal
A SPAC warrant is worth nothing if no deal closes by the deadline.
Filings and events
Questions about LFACW
When does the LFACW warrant expire?
Five years after the SPAC completes its merger; if no merger closes by the deadline, the warrants expire worthless.
What is the strike price of LFACW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many LFACW warrants are outstanding?
7.19M listed warrants, equal to 36.6% dilution if all are exercised.
Related warrants
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