Georgia-based Jackson Acquisition today announced that it will redeem shares and shutter operations effective June 13. The SPAc said it will not meet the deadline for closing a deal and its sponsor has decided not to make a contribution to the trust that would allow for an extension beyond June 13.
Based on the amount in trust as of March 31, the per-share redemption price is expected to be approximately $10.38.
The SPAC expects that its securities will cease trading at the close of business June 12.
The SPAC raised $200 million in a December 2021 ipo. Led by former Florida Gov. Jeb Bush, the SPAC was targeting businesses in healthcare services, healthcare technology, or otherwise focused on the healthcare industry. Read more.
Source: Jeb Bush's Jackson Acquisition Says it will Redeem & Dissolve