JAB Acquisition I, a black check company targeting marketing tech and customer acquisition platforms, raised $150 million by offering 15 million units at $10. Each unit consists of one share of common stock, one warrant to purchase a share exercisable at $11.50, and one right to receive one-fourth of one share at the time of the business combination.
JAB Acquisition I is led by CEO and Chairman Joshua Jagid, who founded Quantum 3 Media and served as its CEO up until its acquisition by Tranzact, where he served as Managing Director. He is joined by CFO, COO, and Director Jack Bressman, who worked in internal sales at The Carlyle Group.
The SPAC intends to target technology-enabled services, performance marketing and customer acquisition platforms, digital media and marketplace models, data analytics and AI-driven solutions, and businesses operating in regulated industries such as insurance and financial services with an aggregate enterprise value of $200 million or greater. More specifically, businesses that operate as technology-enabled customer acquisition and monetization platforms, leveraging data, artificial intelligence, and marketplace dynamics to efficiently match consumer demand with enterprise buyers.
The Englewood Cliffs, NJ-based company will trade on the Nasdaq under the symbol JABU. D. Boral Capital acted as sole bookrunner on the deal.
