JATT Acquisition, a blank check company targeting life sciences technology, filed on Tuesday with the SEC to raise up to $120 million in an initial public offering.
The Cayman Islands-based company plans to raise $120 million by offering 12 million units at $10 per unit. Each unit contains one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, the company would command a market value of $150 million.
JATT Acquisition is led by CEO and Chairman Someit Sidhu, co-founder and CEO of Akaza Bioscience and Izana Bioscience and co-founder of Pathios Therapeutics, and CFO Verender Badial, founder and Managing Director of Cryfield Investments. The company aims to leverage management's experience to target life sciences companies applying cutting edge technologies to the therapeutic development process, such as machine learning, artificial intelligence, mechanistic genetics, and structure-based drug design.
The company was founded in 2021 and plans to list on the NYSE under the symbol JATT.U. Raymond James is the sole bookrunner on the deal.
