JATT Acquisition Corp Announces Full Exercise of Over-Allotment Option and Closing of $138 Million Initial Public Offering
July 19 2021 - 2:04PM
Business Wire
JATT Acquisition Corp (the “Company”), today announced that it
has closed its initial public offering of 13,800,000 units,
including 1,800,000 units sold pursuant to the full exercise of the
underwriters’ over-allotment option, at an offering price of $10.00
per unit. Total gross proceeds from the offering were $138,000,000,
before deducting underwriting discounts and commissions and other
offering expenses. The units began trading on the New York Stock
Exchange (“NYSE”) under the ticker symbol “JATT U” on July 14,
2021. Each unit consists of one Class A ordinary share and one-half
of one redeemable warrant. Each whole warrant will entitle the
holder thereof to purchase one Class A ordinary share at $11.50 per
share. Once the securities comprising the units begin separate
trading, the Class A ordinary shares and the warrants are expected
to be traded on the NYSE under the symbols “JATT” and “JATT WS,”
respectively. No fractional warrants will be issued upon separation
of the units and only whole warrants will trade.
JATT Acquisition Corp is led by Chairman and CEO Someit Sidhu.
The Company is a blank check company, also commonly referred to as
a special purpose acquisition company, or SPAC, formed for the
purpose of effecting a merger, share exchange, asset acquisition,
share purchase, reorganization or similar business combination with
one or more businesses or entities. While the Company may pursue
its initial business combination with any business or industry, it
intends to focus its search primarily in the life sciences
sector.
Raymond James & Associates, Inc. acted as sole book-running
manager for the offering. A registration statement relating to the
securities sold in the initial public offering was declared
effective by the U.S. Securities and Exchange Commission (the
“SEC”) on July 13, 2021. The offering was made only by means of a
prospectus. Copies of the prospectus related to this offering may
be obtained from Raymond James & Associates, Inc., 880 Carillon
Parkway, St. Petersburg, Florida 33716, Attention: Equity
Syndicate, 1-800-248-8863, prospectus@raymondjames.com, or by
visiting EDGAR on the SEC’s website at www.sec.gov.
Of the proceeds received from the consummation of the offering
and a simultaneous private placement of warrants, $139,380,000 (or
$10.10 per unit sold in the offering) was placed in the Company's
trust account. An audited balance sheet of the Company reflecting
receipt of the proceeds upon consummation of the offering and the
private placement will be included as an exhibit to a Current
Report on Form 8-K to be filed by the Company with the SEC.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the IPO and
search for an initial business combination. No assurance can be
given that the offering discussed above will be completed on the
terms described, or at all, or that the net proceeds of the
offering will be used as indicated. Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the Risk
Factors section of the Company's registration statement and
preliminary prospectus for the IPO filed with the SEC. Copies are
available on the SEC's website, www.sec.gov. The Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210719005742/en/
For investors: Verender S. Badial Chief Financial Officer JATT
Acquisition Corp Email: info@jattacquisition.com Website:
www.jattacquisition.com
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