Special purpose acquisition company Jackson Acquisition Company (NYSE: RJAC.U) went public today on the New York Stock Exchange. The company is seeking to raise US$200.0 million through its initial public offering.
The offering consists of 20.0 million company units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one-half of a purchase warrant. Each whole warrant is redeemable to purchase one common share at US11.50 per share.
The units will be trading under the symbol “RJAC.U” but once the securities are separated, the common shares and the purchase warrants will be trading on the New York-based big board under the symbols “RJAC” and “RJAC.WS”, respectively.
BofA Securities is acting as the sole bookrunner for the offering. The company has granted the underwriters a 45-day over-allotment option to purchase additional 3.0 million company units, potentially bringing the offering proceeds to US$230.0 million.
The newly-organized blank check firm’s board is chaired by former Florida governor and 2016 US presidential candidate Jeb Bush. The firm is backed by Jackson Healthcare whose founder and CEO Richard Jackson also serves as the SPAC’s chief executive officer. Bush also sits on Jackson Healthcare’s advisory board.
On its target business, the firm is looking to identify “high-quality businesses with a focus on healthcare services, healthcare technology, or otherwise focused on the healthcare industry.”
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.