Jupiter Acquisition Corporation Announces Pricing of $150 Million Initial Public Offering

Rhea-AI Summary

Jupiter Acquisition Corporation announced the pricing of its IPO at $10.00 per unit, totaling 15,000,000 units. The units will trade under the ticker symbol JAQCU on Nasdaq starting August 13, 2021. Each unit includes one share of Class A common stock and a half warrant, with whole warrants exercisable at $11.50 per share. The offering is expected to close on August 17, 2021, pending customary conditions. The company aims to acquire a business in the consumer industry and is led by notable executives from various investment firms.

Positive

• Initial public offering priced at $10.00 per unit.
• Listing on Nasdaq under ticker symbol JAQCU indicates investor confidence.
• Focus on acquiring consumer industry businesses could lead to strategic growth opportunities.

Negative

• Market uncertainties could affect the completion of the offering.
• Potential integration challenges post-acquisition remain a concern.

HOBE SOUND, FL , Aug. 13, 2021 (GLOBE NEWSWIRE) -- Jupiter Acquisition Corporation (the “Company”) announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit.  The units are expected to be listed on the Nasdaq Capital Market (“Nasdaq”) and trade under the ticker symbol “JAQCU” beginning August 13, 2021.  Each unit consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share.  Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “JAQC” and “JAQCW,” respectively. 

The offering is expected to close on August 17, 2021, subject to the satisfaction of customary closing conditions.

The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.  Although the Company may pursue an acquisition opportunity in any business, industry, sector or geographical location, the Company currently intends to focus on acquiring a business in the consumer industry.  The Company is led by James Hauslein, President of Hauslein & Company, Inc., a private investment firm, and former Chairman and Chief Executive Officer of Sunglass Hut International, James N. Clarke, Managing Partner and Chief Executive Officer of Clarke Capital Partners, LLC, a private family office investment firm, and former Founder, Chairman and Chief Executive Officer of Clearlink, and Gaurav Burman, Managing Partner of Burman Family Holdings, a private investment firm. 

Nomura Securities International, Inc., Brookline Capital Markets, a division of Arcadia Securities, LLC, and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers of the offering.  The Company has granted the underwriters a 45-day option to purchase up to 2,250,000 of the units at the initial public offering price to cover over-allotments, if any.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on August 12, 2021.  The offering is being made only by means of a prospectus.  When available, copies of the prospectus relating to this offering may be obtained by contacting Nomura Securities International, Inc., Attention: Equity Syndicate Department, Worldwide Plaza, 309 West 49th Street, New York, New York 10019-7316, or by telephone at 212-667-9000,  or by email at equitysyndicateamericas@nomura.com.  Copies of the registration statement can also be accessed through the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or the 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.

Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering 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.  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 for the initial public offering 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.

Company Contact
Jupiter Acquisition Corp.
212-207-8884
jim@hauslein.com

FAQ

What is the price of Jupiter Acquisition Corporation's initial public offering?

The IPO is priced at $10.00 per unit.

When will the units of Jupiter Acquisition Corporation start trading?

The units will begin trading on Nasdaq on August 13, 2021.

What ticker symbols will Jupiter Acquisition Corporation use?

Units will trade under JAQCU, Class A common stock under JAQC, and warrants under JAQCW.

What is the expected closing date for the Jupiter Acquisition Corporation IPO?

The offering is expected to close on August 17, 2021.

What industry does Jupiter Acquisition Corporation aim to acquire a business in?

The company intends to focus on acquiring a business in the consumer industry.