SPAC Iris Acquisition Corp II Prices $150 Million IPO

Main Points Summary

Iris Acquisition Corp II has successfully priced its initial public offering, raising $150 million. The special purpose acquisition company offered 15 million units at a price of $10.00 per unit.

IPO Details and Market Debut

Each unit comprises one Class A ordinary share and one-half of one redeemable warrant. The units are expected to begin trading on the New York Stock Exchange under the ticker symbol "IRABU". Following the company's initial business combination, the shares and warrants will trade separately under "IRAB" and "IRABW".

Strategic Outlook and Underwriting

Formed to pursue a merger or acquisition, Iris Acquisition Corp II has not yet selected a specific business target. The offering is managed by Cohen & Company Capital Markets, serving as the sole book-running manager, with an option to cover over-allotments.

Summary

With the SEC declaring the registration effective, the offering is set to close. The market will now watch for the management team's next steps in identifying a suitable merger partner, which is the primary objective of the SPAC.

FAQ

Q: What is Iris Acquisition Corp II?

A: It is a special purpose acquisition company, also known as a SPAC, created to raise capital through an IPO for the purpose of acquiring an existing private company.

Q: How much did the IPO raise?

A: The initial public offering raised $150 million from the sale of 15 million units at $10.00 each, before any potential over-allotments.

Source: Investing.com