Corporate ActionMay 7, 2026, 12:46 PM
Irenic Acquisition Corp. Completes IPO, Raises $252.53M
AI Summary
Irenic Acquisition Corp. (IACQ) announced the completion of its initial public offering (IPO) on April 29, 2026, raising $220 million from the sale of 22 million units. Concurrently, the company completed a private placement of 640,000 units for $6.4 million. On May 1, 2026, the underwriters partially exercised their over-allotment option, selling an additional 3,253,188 units for $32.53 million, bringing the total capital raised to $252.53 million. The aggregate proceeds of $252,531,880 have been deposited into a U.S.-based trust account.
Key Highlights
- IPO closed April 29, 2026, selling 22,000,000 units at $10.00/unit for $220,000,000 gross proceeds.
- Concurrently, 640,000 private placement units were sold at $10.00/unit, raising $6,400,000.
- Underwriters partially exercised over-allotment option on May 1, 2026, for 3,253,188 additional units.
- This generated an additional $32,531,880 in gross proceeds from the over-allotment.
- An additional 65,064 private placement units were sold for $650,640.
- Total proceeds deposited in the trust account reached $252,531,880.
- The Sponsor forfeited 11,703 Class B ordinary shares due to the partial over-allotment exercise.