Jackson Acquisition, a blank check company led by Jeb Bush targeting healthcare, lowered the proposed deal size for its upcoming IPO on Monday.
The Alpharetta, GA-based company now plans to raise $200 million by offering 20 million units at a price of $10. The company had previously filed to offer 30 million units at the same price. Each unit now consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Each unit previously contained one-third of a warrant. At the revised deal size, Jackson Acquisition will raise 33% less in proceeds than previously anticipated.
The company is led by Chairman Jeb Bush, who previously was the 43rd Governor of Florida from 1999 to 2007. He is joined by CEO Richard Jackson, who founded Jackson Healthcare in 2000 and serves as its Chairman and CEO. Given the operational experience of its management team in the healthcare services sector, Jackson Acquisition believes it is well-positioned to capitalize on key trends and opportunities in the post-COVID-19 world of healthcare.
Jackson Acquisition was founded in 2021 and plans to list on the NYSE under the symbol RJAC.U. BofA Securities is the sole bookrunner on the deal.
