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Juniper II Corp. announced the successful closing of its initial public offering, raising $299,000,000 through the sale of 29,900,000 units at $10.00 per unit on November 4, 2021. This includes 3,900,000 units from the full exercise of the underwriters’ over-allotment option. Each unit comprises one share of Class A common stock and half a warrant with an exercise price of $11.50. The company’s shares and warrants will trade under the symbols “JUN” and “JUN WS” on the NYSE.
Positive
Raised $299,000,000 in total gross proceeds.
Successfully exercised underwriters’ over-allotment option for 3,900,000 units.
Negative
Potential shareholder dilution from the issuance of units and warrants.
PALO ALTO, Calif.--(BUSINESS WIRE)--
Juniper II Corp. (the “Company”) announced today the closing of its initial public offering of 29,900,000 units, including 3,900,000 units sold pursuant to the full exercise of the underwriters’ over-allotment option, at a price of $10.00 per unit. Total gross proceeds from the offering were $299,000,000, before deducting underwriting discounts and commissions and other offering expenses. The units began trading on the New York Stock Exchange (the “NYSE”) under the ticker symbol “JUN.U” on November 4, 2021. Each unit consists of one share of Class A common stock of the Company and one-half of one warrant, with each whole warrant entitling the holder thereof to purchase one share of Class A common stock of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the NYSE under the symbols “JUN” and “JUN WS,” respectively.
Morgan Stanley & Co. LLC and UBS Securities LLC acted as joint book-running managers for the offering.
The offering has been made only by means of a prospectus. Copies of the prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; or UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at (888) 827-7275 or by email at ol-prospectusrequest@ubs.com.
A registration statement relating to the securities became effective on November 3, 2021 in accordance with Section 8(a) of the Securities Act of 1933, as amended. 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.
About Juniper II Corp.
Led by former Honeywell International Inc. veterans, Roger Fradin and Murray Grainger, Juniper II Corp. 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. The Company’s efforts to identify a prospective target business will not be limited to a particular industry, although it intends to focus its search for a target business within the industrial sector. Juniper II Corp. follows the previously announced business combination between Janus International Group, Inc. (“Janus”), Clearlake Capital Group, L.P. and Juniper Industrial Holdings, Inc. Janus is a leading global manufacturer and supplier of turn-key building solutions and new access control technologies for the self-storage and other commercial and industrial sectors, which began trading on June 8, 2021 on the NYSE under the ticker symbol “JBI.”
Forward Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the listing on the NYSE of the shares and warrants underlying the units. 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 and prospectus for the Company’s offering filed with the Securities and Exchange Commission (“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.
