LightJump Acquisition, a blank check company formed by private equity exec Robert Bennett targeting the tech sector, raised $120 million by offering 12 million units at $10. The company offered 2 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
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 plans to list on the Nasdaq under the symbol LJAQU. EarlyBirdCapital acted as a lead manager on the deal.
