Healthcare SPAC Jupiter Wellness Acquisition files for a $100 million IPO

Jupiter Wellness Acquisition, a blank check company led by the CEO of Jupiter Wellness targeting the healthcare industry, filed on Monday with the SEC to raise up to $100 million in an initial public offering.

The Jupiter, FL-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 right to receive one-eighth of a share upon the completion of an initial business combination. At the proposed deal size, Jupiter Wellness Acquisition would command a market value of $132 million.

The company is led by CEO and Chairman Brian John, a founder and the CEO of Jupiter Wellness (Nasdaq: JUPW), a developer of cannabidiol-based medical therapeutics and wellness products. The company plans to target businesses in the healthcare industry with equity values between $300 million and $1 billion.

Jupiter Wellness Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol JWACU. I-Bankers Securities is the sole bookrunner on the deal.