LF Cash Acquisition Corp. Announces Stockholder Acceptance of Proposed Small business Mixture …

– Stockholders Redeem A lot less Than 5% of Total Community Shares Remarkable –

– Continues to be on Keep track of to Finish Organization Mix –

NEW YORK, Dec. 15, 2020 (World NEWSWIRE) — LF Money Acquisition Corp. (NASDAQ: LFAC) (“LF Capital”) declared these days that LF Capital’s stockholders voted to approve the proposed business enterprise blend with Landsea Properties Included (“Landsea Homes”) and specified other connected transactions, pursuant to which LF Capital will obtain Landsea Homes for $344 million in whole thought, to be paid out fully through 32,557,303 newly issued shares of LF Capital’s Class A frequent inventory. In link with the acceptance of the proposed company mixture, LF Capital’s general public stockholders have asked for the redemption of 503,716 shares of LF Capital’s public stock.

In addition, LF Capital’s warrant holders voted to approve the modification to the warrant settlement linked to LF Capital’s community warrants such that, as of the closing of the business combination, (i) each and every issued and outstanding general public warrant, which currently entitles each individual holder thereof to buy 1 share of LF Capital’s Course A popular stock at an physical exercise price of $11.50 for each share, will grow to be exercisable for 1-tenth of a person share at an workout selling price of $1.15 for every a person-tenth share ($11.50 for each complete share) and (ii) every single holder of public warrants issued and remarkable instantly prior to the closing of the company mix will be entitled to obtain from LF Funds a 1-time payment of $1.85 per public warrant as soon as practicable next the closing and contingent thereon.

On August 31, 2020, LF Money declared that it entered into a definitive merger arrangement (the “Merger Agreement”) with Landsea Properties. In relationship with the Small business Combination and under the Merger Arrangement, the Merger Arrangement necessitates Landsea Homes’ father or mother, Landsea Green Qualities Co., Ltd. (“Landsea Green”), to use sensible most effective attempts to obtain the acceptance of the Inventory Trade of Hong Kong Limited (“HKSE”) in accordance with the applicable needs of the HKSE’s listing policies. As previously announced, LF Cash is trying to get to lengthen the deadline to consummate the Small business Mixture with Landsea Homes from December 22, 2020 to January 22, 2021 (the “Extension”). The Extension will give the events added time to attain the necessary HKSE acceptance, which is expected to be received soon.

“We are thrilled to acquire this overpowering aid from our shareholders and look forward to completing our business mixture with Landsea Residences,” reported Scott Reed, CEO and President of LF Cash.

Martin Tian, Founder and Chairman of Landsea Eco-friendly, commented: “We are in full assistance of the approaching Business Mix and count on imminent acceptance from the HKSE. We imagine this transaction will present the combined enterprise the important sources and cash to achieve its correct expansion prospective.”

Advisors

B. Riley Securities and Raymond James & Associates, Inc. are acting as monetary advisors for LF Capital. B. Riley Securities and Barclays are performing as placement agents for LF Funds. Dechert LLP is performing as lawful counsel for LF Cash.

Rothschild & Co is acting as distinctive economic advisor to Landsea Houses. Gibson, Dunn & Crutcher LLP is acting as legal counsel for Landsea Homes. Barclays is performing as money markets advisor to Landsea Households. Gateway Group is serving as communications advisor to Landsea Homes.

About LF Capital Acquisition Corp.

LF Capital Acquisition Corp. is a blank examine enterprise that was fashioned in 2018 for the intent of effecting a merger, cash inventory trade, asset acquisition, inventory acquire, reorganization, or very similar company mix with a person or far more corporations. For extra information and facts, please go to www.lfcapital.co.

About Landsea Properties Incorporated

Landsea Residences styles and builds ideal-in-course, higher-effectiveness houses and sustainable learn-prepared communities in some of the most desirable markets in the United States. The business has produced residences and communities in, Arizona and all over California in Silicon Valley, Los Angeles and Orange County.

Building inspired areas that replicate fashionable residing, Landsea Houses builds suburban, single-spouse and children detached and attached houses, mid- and significant-rise qualities and grasp-prepared communities to fulfill the assorted and ever-modifying anticipations and lifestyles of our homebuyers these days and tomorrow.

Led by a veteran team of field experts who boast a long time of around the globe working experience and deep local know-how, Landsea Residences is dedicated to positively enhancing the lives of our homebuyers, workforce and stakeholders by producing an unparalleled life-style experience that is unmatched all over the place we develop.

Landsea Homes is at this time a wholly owned U.S. subsidiary of Landsea Environmentally friendly Group, an worldwide homebuilder that thinks globally but operates locally. Functioning on a few continents like Europe, Asia and North America, Landsea Green’s deep expertise and knowledge of constructing and living in distinctive environments all over the entire world produce homes that embrace the nearby lifestyle in which they are built. For additional info, you should visit landseahomes.com.

Essential Information About the Small business Mixture and Where to Discover It

In link with the Business Blend, LF Cash submitted a definitive proxy statement with the Securities and Exchange Commission (the “SEC”) on November 23, 2020 (the “Proxy Statement”). LF Money mailed the Proxy Assertion and other appropriate documents to its stockholders starting on or about November 27, 2020. LF Capital’s stockholders and other interested individuals are encouraged to study the definitive proxy assertion and any amendments thereto in connection with LF Capital’s solicitation of proxies for its specific assembly of stockholders to be held to approve, between other issues, the Small business Mix, due to the fact these paperwork include crucial details about LF Funds, Landsea Homes and the Company Combination. LF Capital’s stockholders could also get hold of a copy of the definitive proxy assertion as properly as other files filed with the SEC by LF Funds, devoid of demand, at the SEC’s internet site located at www.sec.gov or by directing a request to: LF Capital Acquisition Corp., 600 Madison Avenue, Suite 1802, New York, NY 10022. The details contained on, or that may be accessed by means of, the websites referenced in this press launch is not included by reference into, and is not a section of, this press release.

Individuals in the Solicitation

LF Money and its directors, government officers, other customers of administration, and staff members, beneath SEC regulations, could be considered to be participants in the solicitation of proxies of LF Capital’s stockholders in relationship with the proposed merger and relevant transactions. Investors and security holders could get hold of extra specific information and facts relating to the names and pursuits in the proposed transactions of LF Capital’s administrators and officers in LF Capital’s filings with the SEC, which include LF Capital’s Yearly Report on Sort 10-K for the fiscal yr ended December 31, 2019, which was submitted with the SEC on February 24, 2020 and this kind of information and facts in the preliminary proxy assertion and amendments thereto submitted with the SEC by LF Money in connection with the proposed merger and related transactions.

Forward Hunting Statements

This push release incorporates “forward hunting statements” in just the meaning of the “safe harbor” provisions of the United States Personal Securities Litigation Reform Act of 1995. When made use of in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or related expressions (or the adverse versions of these types of terms or expressions) are supposed to recognize forward-wanting statements.

These ahead-looking statements are not guarantees of future efficiency, ailments or final results, and entail a variety of recognised and not known threats, uncertainties, assumptions and other crucial things, many of which are exterior LF Capital’s management’s manage, that could trigger genuine success or outcomes to vary materially from those reviewed in the forward-seeking statements. Crucial variables, among other people, that may well influence actual results or outcomes incorporate: the disorders to the completion of the merger, such as the required acceptance by LF Capital’s stockholders, may perhaps not be happy on the conditions envisioned or on the expected agenda the parties’ means to meet up with expectations regarding the timing and completion of the merger the prevalence of any function, improve or other circumstance that could give rise to the termination of the Merger Settlement the acceptance by LF Capital’s stockholders of an amendment to LF Capital’s organizational files to lengthen the day by which LF Money will have to entire its preliminary small business blend in purchase to have ample time to near the proposed transaction the end result of any authorized proceedings that may be instituted against the Business associated to the merger or the Merger Settlement and the quantity of the fees, costs, costs and other fees associated to the merger. LF Capital undertakes no obligation to update or revise any forward-hunting statements, no matter whether as a consequence of new details, long term events or normally, except as necessary by law.

No Supply or Solicitation

This push release shall not represent a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This press release shall also not constitute an offer to promote or the solicitation of an offer to obtain any securities, nor shall there be any sale of securities in any states or jurisdictions in which these kinds of present, solicitation or sale would be unlawful prior to registration or qualification below the securities rules of any these jurisdiction. No supplying of securities shall be made apart from by usually means of a prospectus meeting the specifications of portion 10 of the Securities Act of 1933, as amended.

LF Money Get in touch with:

Scott A. Reed
Chief Govt Officer and President
214-740-6112

Landsea Households Call:

John Ho
Main Government Officer
949-345-8080

Trader Relations Get hold of:

Cody Slach
Gateway Trader Relations
949-574-3860
[email protected]