By Stephen Nakrosis
Blank-check company Jackson Acquisition Co., whose chairman is John E. "Jeb" Bush, former governor of Florida and candidate for the U.S. Presidency, on Monday said it was reducing the size of its planned initial public offering.
The company said it was planning a $200 million IPO, down from an earlier size of $300 million. The company said it plans to offer 20 million units at $10 each.
The company also said its sponsor, RJ Healthcare SPAC, LLC, is an affiliate of Jackson Healthcare and Jackson Investment Group.
The company said "we intend to acquire and manage a business or businesses in the healthcare services industry that can benefit from our differentiated and extensive relationships, strength of the Jackson brand name in the healthcare services space and national network."
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com