J2 Acquisition Limited - a British Virgin Islands company founded by James E. Lillie, Martin E. Franklin and Ian G.H. Ashken - has raised gross proceeds of $1,250m through an IPO.

J2 raised $1,210m through the placing of ordinary shares (with matching warrants) at a placing price of $10.00 per ordinary share and a further $40m through the subscription of founder preferred shares (with warrants being issued to subscribers of founder preferred shares on the basis of one warrant per founder preferred share) by the founders through Mariposa Acquisition IV, LLC.

Each warrant entitles the holder to one third of an ordinary share and warrants will be exercisable in multiples of three warrants at $11.50 per ordinary share.

At 9:32am:

(LON:JTOW) share price was +0.58p at 0.58p

(LON:JTWO) share price was +10.51p at 10.51p