Leo Holdings Corp. II (LHC-WT) operates as a special purpose acquisition company, or blank check company, focused on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, primarily targeting entrepreneurially driven consumer growth companies; it holds no significant ongoing operations or generates revenue. Incorporated in 2020 as a Cayman Islands exempted company and headquartered in Nassau, Bahamas, the company raised $375 million through its initial public offering in January 2021, issuing 37.5 million units comprising Class A ordinary shares and warrants, with public shares trading under LHC and redeemable warrants under LHC WS or LHC-WT exercisable at $11.50 per share. In late 2023, Leo Holdings Corp. II mutually terminated its business combination agreement with World View, a stratospheric exploration firm, due to challenging market conditions, leading to the company's planned dissolution and liquidation; it redeemed all outstanding Class A ordinary shares at approximately $10.95 per share on or about December 4, 2023, ceased operations except for wind-up activities, and saw its securities delisted from the New York Stock Exchange, with warrants suspended earlier in November 2022 for abnormally low prices. As of late 2025, the LHC-WT warrants trade over-the-counter at minimal values around $0.01, reflecting the post-liquidation status with no further business combinations pursued.