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JATT Acquisition Corp - JATT

  • Commons

    $9.88

    +0.00%

    JATT Vol: 49.7K

  • Warrants

    $0.60

    +5.26%

    JATT+ Vol: 300.0

  • Units

    $10.10

    -0.30%

    JATT= Vol: 694.0

Average: 0
Rating Count: 0
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SPAC Stats

Market Cap: 136.3M
Average Volume: 37.1K
52W Range: $9.70 - $10.05
Weekly %: -0.20%
Monthly %: +0.00%
Inst Owners: nan

Info

Target: Searching
Days Since IPO: 137
Unit composition:
Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as described herein
Trust Size: 12000000.0M

Management

Officers, Directors and Director Nominees,” “Management — Conflicts of Interest” and “Certain Relationships and Related Party Transactions.” Our officers, directors, security holders and their respective affiliates may have competitive pecuniary interests that conflict with our interests. We have not adopted a policy that expressly prohibits our directors, officers, security holders or affiliates from having a direct or indirect pecuniary or financial interest in any investment to be acquired or disposed of by us or in any transaction to which we are a party or have an interest. In fact, we may enter into an initial business combination with a target business that is affiliated with our sponsor, our directors or officers. We do not have a policy that expressly prohibits any such persons from engaging for their own account in business activities of the types conducted by us. Accordingly, such persons or entities may have a conflict between their interests and ours. The personal and financial interests of our directors and officers may influence their motivation in timely identifying and selecting a target business and completing a business combination. Consequently, our directors’ and officers’ discretion in identifying and selecting a suitable target business may result in a conflict of interest when determining whether the terms, conditions and timing of a particular business combination are appropriate and in our shareholders’ best interest. If this were the case, it would be a breach of their fiduciary duties to us as a matter of Cayman Islands law and we or our shareholders might have a claim against such individuals for infringing on our shareholders’ rights. However, we might not ultimately be successful in any claim we may make against them for such reason. We may engage in an initial business combination with one or more target businesses that have relationships with entities that may be affiliated with our sponsor, officers, directors or existing holders that may raise potential conflicts of interest. In light of the involvement of our sponsor, officers and directors with other entities, we may decide to acquire one or more businesses affiliated with our sponsor, officers or directors. Our directors also serve as officers and board members for other entities, including, without limitation, those described under the section of this prospectus entitled “Management — Conflicts of Interest.” Such entities may compete with us for business combination opportunities. Our sponsor, officers and directors are not currently aware of any specific opportunities for us to complete our initial business combination with any entities with which they are affiliated, and there have been no substantive discussions concerning an initial business combination with any such entity or entities. Although we will not be specifically focusing on, or targeting, any transaction with any affiliated entities, we would pursue such a transaction if we determined that such affiliated entity met our criteria for an initial business combination as set forth in the section of this prospectus entitled “Proposed Business — Selection of a Target Business and Structuring of our Initial Business Combination” and such transaction was approved by a majority of our disinterested directors. Despite our agreement to obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions, regarding the fairness to the Company and our shareholders from a financial point of view of an initial business combination with one or more domestic or international businesses affiliated with our officers, directors or existing holders, potential conflicts of interest still may exist and, as a result, the terms of the initial business combination may not be as advantageous to our public shareholders as they would be absent any conflicts of interest. These risks may become more acute as the 18-month deadline for the completion of our initial business combination. 40 We are not required to obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions, and consequently, you may have no assurance from an independent source that the price we are paying for the target(s) of our initial business combination is fair to our company from a financial point of view. Unless we complete our initial business combination with an affiliated entity or our board of directors cannot independently determine the fair market value of the target business or businesses (including with the assistance of financial advisors), we are not required to obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions that the price we are paying is fair to our company from a financial point of view. If no opinion is obtained, our shareholders will be relying on the judgment of our board of directors, who will determine fair market value based on standards generally accepted by the financial community. Such standards used will be disclosed in our proxy materials or tender offer documents, as applicable, related to our initial business combination. Since our sponsor, officers and directors will lose their entire investment in us if our initial business combination is not completed (except with respect to any public shares the may hold), a conflict of interest may arise in determining whether a particular business combination target is appropriate for our initial business combination. On March 22, 2021, our sponsor purchased 4,312,500 founders shares, which are Class B ordinary shares, for an aggregate purchase price of $25,000, or approximately $0.007 per share. On June 14, 2021, our sponsor effected a surrender of 862,500 founder shares to us for no consideration, resulting in a decrease in the total number of founder shares outstanding from 4,312,500 to 3,450,000. Of the 3,450,000 founder shares outstanding, up to an aggregate of 450,000 shares of which are subject to forfeiture depending on the extent to which the underwriters’ over-allotment option is exercised. The number of founder shares issued was determined based on the expectation that such founder shares would represent 20% of the outstanding shares after this offering. The founder shares will be worthless if we do not complete an initial business combination. In addition, our sponsor has committed to purchase an aggregate of 5,850,000 (or 6,390,000 if the underwriters’ over-allotment option is exercised in full) private placement warrants, each exercisable for one share of our Class A ordinary shares at $11.50 per share, for a purchase price of $5,850,000 (or $6,390,000 if the underwriters’ over-allotment option is exercised in full), or $1.00 per warrant, that will also be worthless if we do not complete an initial business combination. Holders of founder shares have agreed (A) to vote any shares owned by them in favor of any proposed initial business combination and (B) not to redeem any founder shares in connection with a shareholder vote to approve a proposed initial business combination or in connection with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association. In addition, we may obtain loans from our sponsor, affiliates of our sponsor or an officer or director. The personal and financial interests of our officers and directors may influence their motivation in identifying and selecting a target business combination, completing an initial business combination and influencing the operation of the business following the initial business combination. Reimbursement of out-of-pocket expenses incurred by our insiders or any of their affiliates in connection with certain activities on our behalf, such as identifying and investigating possible business targets and business combinations, could reduce the funds available to us to consummate a business combination. In addition, an indemnification claim by one or more of our officers and directors in the event that any of them are sued in their capacity as an officer or director could also reduce the funds available to us outside of the trust account. We may reimburse our insiders or any of their affiliates for out-of-pocket expenses incurred in connection with certain activities on our behalf, such as identifying and investigating possible business targets and business combinations. There is no limit on the amount of out-of-pocket expenses reimbursable by us; provided that, to the extent such expenses exceed the available proceeds not deposited in the trust account, such expenses would not be reimbursed by us unless we consummate an initial business combination. In addition, pursuant to our amended and restated memorandum and articles of association and Cayman Islands law, we may be required to indemnify our officers and directors in the event that any of them are sued in their capacity as an officer or director. We will also enter into agreements with our officers and directors to provide contractual indemnification in addition to the indemnification provided for in our memorandum and articles of association and under Cayman Islands law. In the event that we reimburse our insiders or any of their affiliates for out-of-pocket expenses prior to the consummation of a business combination or are required to indemnify any of our officers or directors pursuant to our amended and restated memorandum and articles of association, Cayman Islands law, or the indemnity agreements that we will enter into with them, we would use funds available to us outside of the trust account for our working capital requirements. Any reduction in the funds available to us could have a material adverse effect on our ability to locate and investigate prospective target businesses and to structure, negotiate, conduct due diligence in connection with or consummate our initial business combination. 41 We may have a limited ability to assess the management of a prospective target business and, as a result, may affect our initial business combination with a target business whose management may not have the skills, qualifications or abilities to manage a public company, which could, in turn, negatively impact the value of our shareholders’ investment in us. When evaluating the desirability of effecting our initial business combination with a prospective target business, our ability to assess the target business’s management may be limited due to a lack of time, resources or information. Our assessment of the capabilities of the target’s management, therefore, may prove to be incorrect and such management may lack the skills, qualifications or abilities we suspected. Should the target’s management not possess the skills, qualifications or abilities necessary to manage a public company, the operations and profitability of the post-combination business may be negatively impacted. Accordingly, any shareholders who choose to remain shareholders following the initial business combination could suffer a reduction in the value of their shares. Such shareholders are unlikely to have a remedy for such reduction in value. Our initial shareholders control a substantial interest in us and thus may influence certain actions requiring a shareholder vote, potentially in a manner that you do not support. Upon consummation of our offering and the private placement, our initial shareholders will collectively own approximately 20% of our issued and outstanding ordinary shares (assuming they do not purchase any shares in this offering). Accordingly, they may exert a substantial influence on actions requiring a shareholder vote, potentially in a manner that you do not support, including amendments to our memorandum and articles of association. None of our officers, directors, initial shareholders or their affiliates has indicated any intention to purchase shares in this offering or any ordinary shares from persons in the open market or in private transactions (other than the private shares or private warrants). However, if our initial shareholders purchase any shares in this offering or if our officers, directors, initial shareholders or their affiliates determine in the future to make such purchases in the open market or in private transactions, to the extent permitted by law, in order to assist us in consummating our initial business combination, this would increase their control. Factors that would be considered in making such additional purchases would include consideration of the current trading price of our ordinary shares. In connection with any vote for a proposed business combination, all of our initial shareholders, as well as all of our officers and directors, have agreed to vote the ordinary shares owned by them immediately before this offering as well as any ordinary shares acquired in this offering or in the aftermarket in favor of such proposed business combination. There is no requirement under the Companies Act for us to hold annual or general meetings to elect directors. Accordingly, shareholders would not have the right to such a meeting or appointment of directors, unless the holders of not less than 10% of the voting rights of our company request such a meeting. As a result, it is unlikely that there will be an annual general meeting to elect new directors prior to the consummation of a business combination, in which case all of the current directors will continue in office until at least the consummation of the business combination. Accordingly, you may not be able to exercise your voting rights for up to 18 months. If there is an annual general meeting, as a consequence of our “staggered” board of directors, only a minority of the board of directors will be considered for election and our initial shareholders, because of their ownership position, will have considerable influence regarding the outcome. Accordingly, our initial shareholders will continue to exert control at least until the consummation of a business combination. Our sponsor paid an aggregate of $25,000 for the founder shares, or approximately $0.007 per founder share. As a result of this low initial price, our sponsor, its affiliates and our management team stand to make a substantial profit even if an initial business combination subsequently declines in value or is unprofitable for our public stockholders. As a result of the low acquisition cost of our founder shares, our sponsor, its affiliates and our management team could make a substantial profit even if we select and consummate an initial business combination with an acquisition target that subsequently declines in value or is unprofitable for our public stockholders. Thus, such parties may have more of an economic incentive for us to enter into an initial business combination with a riskier, weaker-performing or financially unstable business, or an entity lacking an established record of revenues or earnings, than would be the case if such parties had paid the full offering price for their founder shares. We may issue notes or other debt securities, or otherwise incur substantial debt, to complete an initial business combination, which may adversely affect our leverage and financial condition and thus negatively impact the value of our shareholders’ investment in us. Although we have no commitments as of the date of this prospectus to issue any notes or other debt securities, or to otherwise incur outstanding debt following this offering, we may choose to incur substantial debt to complete our initial business combination. We have agreed that we will not incur any indebtedness unless we have obtained from the lender a waiver of any right, title, interest or claim of any kind in or to the monies held in the trust account. As such, no issuance of debt will affect the per-share amount available for redemption from the trust account. Nevertheless, the incurrence of debt could have a variety of negative effects, including: 42 · default and foreclosure on our assets if our operating revenues after an initial business combination are insufficient to repay our debt obligations; · acceleration of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant; · our immediate payment of all principal and accrued interest, if any, if the debt security is payable on demand; · our inability to obtain necessary additional financing if the debt security contains covenants restricting our ability to obtain such financing while the debt security is outstanding; · our inability to pay dividends on our ordinary shares; · using a substantial portion of our cash flow to pay principal and interest on our debt, which will reduce the funds available for dividends on our ordinary shares if declared, our ability to pay expenses, make capital expenditures and acquisitions, and fund other general corporate purposes; · limitations on our flexibility in planning for and reacting to changes in our business and in the industry in which we operate; · increased vulnerability to adverse changes in general economic, industry and competitive conditions and adverse changes in government regulation; · limitations on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, and execution of our strategy; and · other disadvantages compared to our competitors who have less debt. We may be able to complete only one business combination with the proceeds of this offering and the sale of the private placement warrants, which will cause us to be solely dependent on a single business, which may have a limited number of products or services and limited operating activities. This lack of diversification may negatively impact our operating results and profitability. Of the net proceeds from this offering and the sale of the private placement warrants, $121,200,000 (or $139,380,000 if the underwriters’ over-allotment option is exercised in full) will be available to complete our initial business combination and pay related fees and expenses (excluding up to $4,200,000, or up to $4,830,000 if the over-allotment option is exercised in full, for the payment of deferred underwriting commissions being held in the trust account), which deferred underwriting commissions shall be paid upon the closing of a business combination. We may effectuate our initial business combination with a single target business or multiple target businesses simultaneously or within a short period of time. However, we may not be able to effectuate our initial business combination with more than one target business because of various factors, including the existence of complex accounting issues and the requirement that we prepare and file pro forma financial statements with the SEC that present operating results and the financial condition of several target businesses as if they had been operated on a combined basis. By completing our initial business combination with only a single entity, our lack of diversification may subject us to numerous economic, competitive and regulatory developments. Further, we would not be able to diversify our operations or benefit from the possible spreading of risks or offsetting of losses, unlike other entities which may have the resources to complete several business combinations in different industries or different areas of a single industry. Accordingly, the prospects for our success may be: · solely dependent upon the performance of a single business, property or asset, or · dependent upon the d

Holder Stats

1 0
% of Shares Held by All Insider NaN
% of Shares Held by Institutions NaN
% of Float Held by Institutions NaN
Number of Institutions Holding Shares NaN

Institutional Holders

Reporting Date Hedge Fund Shares Held Market Value % of Portfolio Quarterly Change in Shares Ownership in Company
2021-11-16 Warberg Asset Management LLC 10,000 $99,000 0.0% 0 0.058%
2021-11-15 Berkley W R Corp 121,016 $1,180,000 0.1% 0 0.702%

SEC Filings

Form Type Form Description Filing Date Document Link
10-Q FORM 10-Q 2021-11-19 https://www.sec.gov/Archives/edgar/data/1855644/000141057821000340/jatt-20210930x10q.htm
NT 10-Q NT 10-Q 2021-11-15 https://www.sec.gov/Archives/edgar/data/1855644/000110465921139092/tm2132836d1_nt10q.htm
8-K FORM 8-K 2021-09-29 https://www.sec.gov/Archives/edgar/data/1855644/000110465921120612/tm2128531d1_8k.htm
10-Q FORM 10-Q 2021-08-27 https://www.sec.gov/Archives/edgar/data/1855644/000110465921110390/jatt-20210630x10q.htm
10-Q FORM 10-Q 2021-08-27 https://www.sec.gov/Archives/edgar/data/1855644/000110465921110386/jatt-20210331x10q.htm
8-K FORM 8-K 2021-08-11 https://www.sec.gov/Archives/edgar/data/1855644/000110465921103491/tm2124771d1_8k.htm
3 FORM 3 SUBMISSION 2021-07-26 https://www.sec.gov/Archives/edgar/data/1855644/000089924321029972/xslF345X02/doc3.xml
SC 13D SC 13D 2021-07-26 https://www.sec.gov/Archives/edgar/data/1855644/000119312521224373/d117249dsc13d.htm
4 PRIMARY DOCUMENT 2021-07-23 https://www.sec.gov/Archives/edgar/data/1855644/000031206921000061/xslF345X03/primary_doc.xml
3 PRIMARY DOCUMENT 2021-07-23 https://www.sec.gov/Archives/edgar/data/1855644/000031206921000060/xslF345X02/primary_doc.xml
8-K FORM 8-K 2021-07-22 https://www.sec.gov/Archives/edgar/data/1855644/000110465921094971/tm2122636d1_8k.htm
SC 13G 2021-07-22 https://www.sec.gov/Archives/edgar/data/1855644/000112329221001147/aimco13g.htm
SC 13D SC 13D 2021-07-21 https://www.sec.gov/Archives/edgar/data/1855644/000110465921094342/tm2122798d1_sc13d.htm
3 OWNERSHIP DOCUMENT 2021-07-20 https://www.sec.gov/Archives/edgar/data/1855644/000110465921093943/xslF345X02/tm2122242-5_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-07-20 https://www.sec.gov/Archives/edgar/data/1855644/000110465921093940/xslF345X02/tm2122242-4_3seq1.xml
8-K FORM 8-K 2021-07-19 https://www.sec.gov/Archives/edgar/data/1855644/000110465921093483/tm2122413d1_8k.htm
3 OWNERSHIP DOCUMENT 2021-07-14 https://www.sec.gov/Archives/edgar/data/1855644/000110465921092294/xslF345X02/tm2122242-3_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-07-14 https://www.sec.gov/Archives/edgar/data/1855644/000110465921092287/xslF345X02/tm2122242-8_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-07-14 https://www.sec.gov/Archives/edgar/data/1855644/000110465921092286/xslF345X02/tm2122242-7_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-07-14 https://www.sec.gov/Archives/edgar/data/1855644/000110465921092285/xslF345X02/tm2122242-6_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-07-14 https://www.sec.gov/Archives/edgar/data/1855644/000110465921092284/xslF345X02/tm2122242-1_3seq1.xml
424B4 424B4 2021-07-14 https://www.sec.gov/Archives/edgar/data/1855644/000110465921092092/tm2122084-1_424b4.htm
EFFECT 2021-07-13 https://www.sec.gov/Archives/edgar/data/1855644/999999999521002736/xslEFFECTX01/primary_doc.xml
CERT NYSE CERTIFICATION 2021-07-13 https://www.sec.gov/Archives/edgar/data/1855644/000087666121001046/JATT071321.pdf
8-A12B 8-A12B 2021-07-13 https://www.sec.gov/Archives/edgar/data/1855644/000110465921091567/tm2122080d1_8a12b.htm
CORRESP 2021-07-08 https://www.sec.gov/Archives/edgar/data/1855644/000110465921090139/filename1.htm
CORRESP 2021-07-08 https://www.sec.gov/Archives/edgar/data/1855644/000110465921090138/filename1.htm
S-1/A FORM S-1/A 2021-07-06 https://www.sec.gov/Archives/edgar/data/1855644/000110465921089459/tm2112336-4_s1a.htm
CORRESP 2021-06-15 https://www.sec.gov/Archives/edgar/data/1855644/000110465921081553/filename1.htm
S-1 FORM S-1 2021-06-15 https://www.sec.gov/Archives/edgar/data/1855644/000110465921081549/tm2112336-2_s1.htm
UPLOAD 2021-05-05 https://www.sec.gov/Archives/edgar/data/1855644/000000000021005744/filename1.pdf
DRS 2021-04-08 https://www.sec.gov/Archives/edgar/data/1855644/000110465921048134/filename1.htm