Jensyn Acquisition's stock debuts slightly below IPO price
Jensyn Acquisition Corp.'s stock debuted on the Nasdaq exchange Thursday morning, slightly below the initial public offering price of $10. The first trade of the shares of the shell company, which was formed for the purpose of entering into a merger with one or more businesses, was at $9.95, at 11:15 a.m. Eastern. The company sold 3.9 million "units" at $10 to raise $39 million; the units consist of one share of common stock, on right to receive one-tenth of one share of common stock after an initial business combination is completed and one warrant to buy one-half of one common share. While the shares began trading under the symbol "JSYNU," the units offered will eventually separate on or before May 1, with the common stock trading under "JSYN," the rights to trade under "JSYNR" and the warrants to trade under "JSYNW."
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