Juniper II Corp., the second blank check company led by former Honeywell execs targeting North American industrials, raised $260 million by offering 26 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by Chairman Roger Fradin, who previously served as President and CEO of Honeywell Automation and Control Solutions, and CEO and Director Murray Grainger, who was the founding Managing Director and Global Head of Honeywell Ventures.
The group's previous SPAC, Juniper Industrial Holdings, completed its combination with equipment maker Janus International (JBI) this past June. Juniper II intends to focus on North American-based targets in the industrials sector with aggregate enterprise values between $1 billion and $2 billion.
The Palo Alto, CA-based company plans to list on the NYSE under the symbol JUN.U. Morgan Stanley and UBS Investment Bank acted as joint bookrunners on the deal.
