NEW YORK--(BUSINESS WIRE)--JATT Acquisition Corp ("the Company" or "JATT") (NYSE: JATT U), a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, today announced that holders of the Company's units may elect to separately trade the ordinary shares and warrants included in their units commencing on or about September 3, 2021.
Each unit consists of one ordinary share and one-half of one redeemable warrant, with each whole warrant entitling the holder to purchase one ordinary share at a price of $11.50 per share. In the separation, unit owners will receive the number of ordinary shares underlying their units and the whole number of redeemable warrants underlying such units; however, no fractional warrants will be issued. Any holder of units whose ownership includes a fractional number of underlying warrants will be issued a number of warrants that is rounded down to the nearest whole number. Accordingly, any owner of units that does not own a multiple of two units immediately prior to separation will lose one-half of a warrant upon separation. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company's transfer agent, in order to separate the units into ordinary shares and warrants.
The ordinary shares and warrants will trade on the New York Stock Exchange ("NYSE") under the symbols JATT and JATT WS, respectively. Units not separated will continue to trade on NYSE under the symbol JATT U.
About JATT Acquisition Corp
JATT Acquisition Corp is led by Chairman and CEO Dr. Someit Sidhu. The Company is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Although the Company may pursue its initial business combination with any business or industry, it intends to focus its search primarily in the life sciences sector.
This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the IPO filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.