PropTech SPAC Jaguar Global Growth Prices US$200 Million IPO
Special purpose acquisition company Jaguar Global Growth Corporation I (Nasdaq: JGGCU) started trading on the Nasdaq Global Market on Friday. The firm aims to raise US$200.0 million in its initial public offering.
The offering consisted of 20.0 million company units at US$10.00 per unit. Each unit contains one Class A common share, one-half of a redeemable warrant, and one-twelfth of a right. Each whole warrant is exercisable for one common share at US$11.50 per share while each whole right equates to one common share. The company units are currently trading under the symbol “JGGCU” while the shares, warrants, and rights, once trading separately, will be trading under “JGGC”, “JGGCW”, and “JGGCR”, respectively.
Citigroup Global Markets Inc. and Barclays Capital Inc. serve as joint bookrunners for the said offering. The underwriters were granted a 45-day overallotment option to purchase additional 3.0 million units at the same IPO price.
For its target businesses, the firm said it intends to focus on firms at the intersection of real estate and technology, a category broadly referred to as “PropTech”.
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.
