Life sciences SPAC JATT Acquisition prices $120 million IPO

JATT Acquisition, a blank check company targeting life sciences technology, raised $120 million by offering 12 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Certain investors had indicated on $81 million worth of units in the offering.

JATT Acquisition is led by CEO and Chairman Someit Sidhu, co-founder and CEO of Akaza Bioscience and Izana Bioscience and co-founder of Pathios Therapeutics. The company aims to leverage management's experience to target the life sciences sector, focusing on businesses utilizing the application of machine learning techniques and structure-based drug design to improve the therapeutic development process.

JATT Acquisition plans to list on the NYSE under the symbol JATT.U. Raymond James acted as sole bookrunner on the deal.