Jupiter Acquisition priced its IPO of 15 million units at $10 each.
Units begin trading today on the Nasdaq under JAQCU. Each consists of one share of Class A common stock and one-half of one redeemable warrant, with whole warrants exercisable to purchase one share at $11.50. Once the securities begin separate trading, stock and warrants are expected to list under JAQC and JAQCW.
The offering is expected to close Aug. 17.
The SPAC currently intends to focus on acquiring a business in the consumer industry.
Jupiter is led by James Hauslein, president of Hauslein & Company, Inc., a private investment firm, and former chairman and CEO of Sunglass Hut International; James Clarke, managing partner and CEO of Clarke Capital Partners, a private family office investment firm, and founder, former chairman and CEO of Clearlink; and Gaurav Burman, managing partner of Burman Family Holdings, a private investment firm.
Nomura Securities International, Brookline Capital Markets, and Ladenburg Thalmann are joint book-running managers of the offering. The underwriters have an over-allotment option to purchase up to 2.25 million units at the IPO price. Read more.