SPAC JJ Opportunity files for a $50 million IPO, targeting fintech, software services, and technology

JJ Opportunity, a blank check company targeting fintech, software services, and technology, filed on Friday with the SEC to raise up to $50 million in an initial public offering.

The company plans to raise $50 million by offering 5 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination. At the proposed deal size, JJ Opportunity would command a market value of $66 million.   

JJ Opportunity is led by CEO and Chairman Jerome Zhang, the CEO of Ninth Eternity Ventures and JZ Securities (both affiliated with JD Capital), and CFO and Director Shangyong Zhang, the CEO of China Communication Media Group (TPEX: 6404). The company plans to leverage management's experience and target businesses within technology-enabled financial sectors including but not limited to, fintech, software services, and technology, within Asia and North America. 

The Cambridge, MA-based company was founded in 2021 and plans to list on the Nasdaq under the symbol JJOCU. JJ Opportunity filed confidentially on June 10, 2021. Maxim Group LLC is the sole bookrunner on the deal.