SEC Filing Summary: Leisure Acquisition Corp. (LACQ)
Business Context and Reporting Period
This Form 8-K was filed by Leisure Acquisition Corp. (LACQ) on March 4, 2020. LACQ is a Delaware corporation and an emerging growth company. The filing reports on events occurring on March 4, 2020, regarding the extension of the company's deadline to complete a business combination.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, or cash flow data. The only specific financial figure disclosed is a deposit of $566,287.53 made into the company's trust account on March 4, 2020.
Material Changes
- Trust Account Funding: LACQ funded an additional month of its extended period to complete a business combination by depositing $566,287.53 into its trust account.
- Extension Approval: Stockholders previously approved proposals on November 26, 2019, to extend the business combination deadline to April 5, 2020.
Guidance, Outlook, and Risks
The filing confirms the company is actively managing its timeline to meet the April 5, 2020, deadline for completing a business combination. No specific guidance, management commentary on future operations, or detailed risk factors beyond the standard SPAC timeline constraints are provided in this specific report.
Investor Verification Checklist
- Verify the total balance of the trust account following the $566,287.53 deposit.
- Confirm the status of any potential business combination targets as the April 5, 2020, deadline approaches.
- Review the terms of the stockholder approval from November 26, 2019, regarding the extension mechanics.