Integrated Rail and Resources Acquisition Corp. Announces Extension

Rhea-AI Summary

Integrated Rail and Resources Acquisition Corp has announced an extension of its timeline to complete a business combination. The company's sponsor, DHIP Natural Resources Investments, has notified that the period will be extended from February 15, 2025 to March 15, 2025.

The company operates as a blank check company aiming to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination. While open to various sectors, it primarily focuses on natural resources, railroads and/or railroad logistics companies, or combinations thereof.

The announcement was made in accordance with Rule 135 under the Securities Act and does not constitute an offer to sell or solicitation to buy securities.

News Market Reaction

+114.29%

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+114.29% News Effect

On the day this news was published, IRRX gained 114.29%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

WINTER PARK, Fla., Feb. 12, 2025 (GLOBE NEWSWIRE) -- Pursuant to the Investment Management Trust Agreement between Integrated Rail and Resources Acquisition Corp. (the “Company”) and American Stock Transfer & Trust Company, LLC, dated as of November 11, 2021, as amended on February 8, 2024, the Company received notice from the Company’s sponsor, DHIP Natural Resources Investments, LLC, that the Company intends to extend the time available in order to consummate a business combination from February 15, 2025 to March 15, 2025.

The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on natural resources, railroads and/or railroad logistics companies, or any combinations thereof.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (“Securities Act”). This announcement is being issued in accordance with Rule 135 under the Securities Act.

Contact: William Savery
wsavery@dhipgroup.com

FAQ

What is the new deadline for Integrated Rail and Resources Acquisition Corp (IRRX) to complete its business combination?

The new deadline for IRRX to complete its business combination is March 15, 2025, extended from the previous deadline of February 15, 2025.

What industries is IRRX targeting for its business combination?

IRRX is primarily focusing on natural resources, railroads and/or railroad logistics companies, or combinations thereof, although it may pursue targets in other industries.

Who approved the deadline extension for IRRX's business combination?

The extension was initiated by DHIP Natural Resources Investments, , the company's sponsor, pursuant to the Investment Management Trust Agreement.

What is the purpose of IRRX's February 2025 extension announcement?

The announcement extends the time available for IRRX to consummate a business combination, giving the company an additional month to complete its intended merger or acquisition.

When was IRRX's original Investment Management Trust Agreement established?

The original Investment Management Trust Agreement was dated November 11, 2021, and was amended on February 8, 2024.