LightJump Acquisition, a blank check company formed by LightJump Capital targeting the tech sector, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The Menlo Park, CA-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50. At the proposed deal size, LightJump Acquisition would command a market value of $126 million.
The company is led by CEO and Chairman Robert Bennett, who is currently CEO of social education provider Jon D. Williams Cotillions and private equity sponsor group First Lexington; CFO and Vice Chairman William Bunker, co-founder of seed stage venture funds GrowthX and Silicon Valley Growth Syndicate, and co-founder of Match.com; President Eric Ver Ploeg, a former Managing Director of Deutsche Telekom Capital Partners venture group; and VP of Acquisitions Patrick Brandt, co-founder and President of Shiftsmart. The four currently operate LightJump Capital, a newly-formed SPAC investment firm.
The company plans to target businesses that directly or indirectly offer specific technology solutions or broader technology software and services.
LightJump Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol LJAQU. The company filed confidentially on October 9, 2020. EarlyBirdCapital is the sole bookrunner on the deal.
