JATT II Acquisition Corp.

JATT II Acquisition Corp.

Manish Mahajan and Arvind Kumar incorporated JATT II Acquisition Corp. in the Cayman Islands with a UK listing in 2021, raising approximately $115M in an initial public offering on the London Stock Exchange. The vehicle was a special purpose acquisition company, meaning it held no operating business and existed solely to merge with a private company — providing that target a faster route to public markets than a traditional IPO. The principals brought cross-border finance and industrial operating experience to the effort. The SPAC committed to pursuing targets in the broader energy transition and sustainable infrastructure sectors across Europe and Asia. Unlike a conventional fund, JATT II did not make portfolio investments or launch multiple strategies — its entire mandate was a single business combination. It had the ability to deploy the full trust proceeds into one definitive agreement by its transaction deadline. No named target, letter of intent, or business combination agreement was ever publicly filed by the required date, despite the search window. JATT II was managed by a lean board with no large specialist investment team or disclosed advisory network supporting the deal-sourcing process. The company's London-listed structure was notable in a SPAC cycle dominated by US exchanges. As of its mandatory liquidation deadline in mid-2023, no transaction had been consummated. The trust was unwound and funds were returned to public shareholders in accordance with the governing charter documents. JATT II's trajectory serves as a clean case study in sponsor-led blank-check capitalism outside the United States during the post-2020 SPAC wave. The corporate architecture existed purely as a time-bound, publicly traded shell — its structural differentiator was its own impermanence. A successor vehicle, JATT III, has not been registered, leaving JATT II as an isolated chapter in the sponsors' deal-making history.