Lafayette Energy Corp. Plans $5 Million IPO for Week of November 4th (LEC)

Lafayette Energy Corp. (LEC) is planning to raise $5 million in an IPO on the week of November 4th, IPO Scoop reports. The company plans to issue 1,200,000 shares at $4.00-$5.00 per share.

The company has a market cap of $65.6 million.

Spartan Capital Securities acted as the underwriter for the IPO.

Lafayette Energy Corp. provided the following description of their company for its IPO: “We are an early stage oil and gas exploration company, based in Denver. We are focused primarily on natural gas E&P. (Incorporated in Delaware)  We have options to lease about 11,000 acres in the Imperial Parish Fields in south central Louisiana. We have operations in Saint Landry Parish, Opelousas field, in south central Louisiana, in an area we identify as the Imperial Parish Fields. **Note: Accumulated deficit of $2.88 million is for the period from the time of inception on Feb. 7, 2022, through Aug. 30, 2024.  Note: Net loss and revenue are for the 12 months that ended June 30, 2024. Note: The company has not generated any operating revenue from the time of inception to date, according to its S-1/A filing dated Aug. 30, 2024.  (Note: Lafayette Energy Corp. changed its listing venue back to the NASDAQ – its original venue – and raised its price range to $4.00 to $5.00 – while keeping the number of shares at 1.2 million – to raise $$5.4 million, according to an S-1/A filing dated Sept. 18, 2024.) (Note: Lafayette Energy Corp. changed its listing venue to the NYSE – American Exchange from the NASDAQ in an S-1/A filing dated June 27, 2024, and kept the IPO’s terms the same: The company is offering 1.2 million shares at a price range of $3.50 to $4.50 to raise $4.8 million. Background: Lafayette Energy Corp. cut its IPO’s price range to $3.50 to $4.50 – and kept the number of shares at 1.2 million shares – to raise $4.8 million in an S-1/A filing dated April 25, 2024; the IPO remained a NASDAQ listing at the time.) (Note: Lafayette Energy Corp. revived its IPO plans by refiling an S-1 on Dec. 29, 2023, and disclosing terms: 1.2 million shares at $4.00 to $5.00 to raise $5.4 million. Lafayette Energy’s IPO remained a NASDAQ listing at the time that it was revived.) (Background: Lafayette Energy Corp. withdrew its plans for a micro-cap IPO in an SEC filing dated Aug. 17, 2023. The S-1 was filed on March 10, 2023, when Lafayette disclosed terms: 1.2 million shares at $5.00 to $7.00 to raise $7.2 million.  Lafayette Energy Corp. updated its financial statements in an S-1/A filing dated May 18, 2023. The company filed confidential IPO documents on Nov. 23, 2022.)  **Note: A 2-for-3 reverse stock split became effective on Jan. 26, 2023, the prospectus says. “.

Lafayette Energy Corp. was founded in 2022 and has 0 employees. The company is located at 383 Corona St. #635 Denver, Colorado 80218 and can be reached via phone at (303) 625 6709 or on the web at http://www.LafayetteEnergyCorp.com/.