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L&L Acquisition Corp. | Boston, MA
L&L Acquisition Corp. (OTCBB: LLAQU) was a blank check company (more commonly known as a SPAC) formed by LLM and John Shermyen (founder and president of LogistiCare, Inc., a former successful portfolio company of the LLM principals) for the purpose of acquiring one or more businesses in the healthcare industry. In November 2010, L&L Acquisition Corp. raised $40 million in an IPO. As part of the sponsors' investment, LLM invested $6.6 million in L&L Acquisition Corp. The $40 million raised was deposited into a trust account to ultimately be used to consummate a business combination in the healthcare industry.
LLM and John Shermyen investigated and conducted due diligence on more than 50 companies and negotiated and entered into several non-binding letters of intent with potential acquisition targets in the period since its IPO. Ultimately, L&L was liquidated and LLM and John Shermyen acquired Best Practice Disease Management, (renamed Ingenios Health post acquisition), which was too early stage to be a public company.
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