UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 15, 2021

LOGISTICS INNOVATION TECHNOLOGIES CORP. 

(Exact name of registrant as specified in its charter)

3348 Peachtree Road
Suite 700

Atlanta, GA 30326

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (678) 954-4822

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

On June 15, 2021, Logistics Innovation Technologies Corp. (the “Company”) consummated its initial public offering (“IPO”) of 34,089,611 units (the “Units”), including the issuance of 4,089,611 Units as a result of the underwriters’ exercise in part of their over-allotment option to purchase additional Units. Each Unit consists of one share of Class A common stock of the Company, par value $0.0001 per share (the “Class A Common Stock”), and one-third of one redeemable warrant of the Company (each, a “Warrant”), each whole Warrant entitling the holder thereof to purchase one share of Class A Common Stock for $11.50 per share, subject to adjustment. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $340,896,110.

On June 15, 2021, simultaneously with the consummation of the IPO, the Company completed the private sale (the “Private Placement”) of an aggregate of 5,361,412 warrants (the “Private Placement Warrants”) to 1P Management LLC and 583,869 Private Placement Warrants to AG LIT Holdings, LLC at a purchase price of $1.50 per Private Placement Warrant, generating gross proceeds to the Company of $8,917,922.

A total of $340,896,110, comprised of $334,078,187.80 of the proceeds from the IPO (which amount includes $11,931,364 of the underwriters’ deferred discount) and $6,817,922.20 of the proceeds of the sale of the Private Placement Warrants, was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A. maintained by Continental Stock Transfer & Trust Company, acting as trustee.

An audited balance sheet as of June 15, 2021 reflecting receipt of the proceeds upon consummation of the IPO and the Private Placement has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.

EXHIBIT INDEX

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: June 21, 2021