JATT II Acquisition Corp is a blank check company (SPAC) incorporated in the Cayman Islands in January 2026 with no operations. Its sole purpose is to identify and acquire one or more private businesses in healthcare, specifically biotechnology and life sciences, and bring them public. JATT II raised $60M in its IPO at $10.00 per share, with proceeds held in trust in U.S. Treasuries. The company has 24 months to complete an acquisition; if no deal closes, the trust is liquidated and funds are returned to public shareholders at approximately $10.00 per share. JATT II is led by Dr. Someit Sidhu, who previously led JATT I, which raised $138M in 2021 and merged with Zura Bio, a clinical-stage immunology company, in 2023. The sponsor paid $25,000 for founder shares representing ~20% of post-IPO shares — shares that convert to full value at deal close but expire worthless in a liquidation. Guggenheim Securities receives $600K upfront and $1.8M in deferred fees released only upon deal completion. The sponsor also receives $20K/month for administrative services until deal close or liquidation. AI Biotechnology, an affiliate of Access Industries, has indicated a non-binding interest to invest up to $30M via PIPE at deal signing. One structural constraint: because Dr. Sidhu is a UK citizen, JATT II may be considered a foreign person under CFIUS rules, potentially limiting its eligible target pool.