Irenic Acquisition Corp. reported that its sponsor entity, Irenic Sponsor, LLC, recorded two related equity movements. The sponsor acquired 32,532 Class A ordinary shares at $10.00 per share within 452,532 Private Placement Units, bringing its Class A holdings to 452,532 shares.
The sponsor also forfeited 11,073 Class B ordinary shares at no cost in connection with underwriters partially exercising their over-allotment option, leaving 6,313,297 Class B shares outstanding. These Class B shares are convertible into Class A ordinary shares and have no expiration date. Sponsor managers, including CEO Adam Katz, disclaim beneficial ownership beyond any pecuniary interest under a “rule of three” voting structure.
Irenic Acquisition Corp. reported that Irenic Sponsor, LLC, a 10% owner, acquired 420,000 Class A Ordinary Shares at $10.00 per Private Placement Unit. After this grant/award transaction, the Sponsor holds 420,000 Class A Ordinary Shares.
The shares are held of record by the Sponsor. Adam Katz (CEO and director), Matthew Kupersmith (CFO), and E‑Fei Wang (President and director) are managers of the Sponsor, but under the “rule of three” they each disclaim beneficial ownership beyond any indirect pecuniary interest.
Irenic Acquisition Corp. completed its initial public offering of 22,000,000 units at $10.00 per unit, raising gross proceeds of $220,000,000. Each unit includes one Class A ordinary share and one-third of a redeemable warrant exercisable at $11.50 per share.
The company also sold 640,000 Private Placement Units for $6,400,000, with the sponsor buying 420,000 units and Jefferies and Odeon 220,000 units. A total of $220,000,000 from the IPO and private placement was deposited into a trust account, to be used for a future business combination or redemptions.
In connection with the IPO, Irenic appointed three independent directors, constituted Audit and Compensation Committees, and adopted an Amended and Restated Memorandum and Articles of Association. The SPAC plans to seek a business combination in the aerospace, defense and broader industrial sectors within 24 months of the IPO closing.
Irenic Acquisition Corp. is offering 22,000,000 units at $10.00 per unit for aggregate gross proceeds of $220,000,000 (up to 25,300,000 units if the underwriters’ option is exercised). Each unit contains one Class A ordinary share and one‑third of a redeemable warrant exercisable at $11.50.
The prospectus states $220,000,000 (or up to $253,000,000) will be deposited into a U.S. trust account; public shareholders may redeem shares in connection with an initial business combination. The sponsor holds 6,325,000 founder shares (acquired for $25,000) and a forward purchase agreement commits the Evergreen Fund to buy 5,000,000 forward purchase units for $50,000,000. The company has a 24‑month completion window to close a business combination and intends to focus on aerospace, defense and industrials.
Irenic Sponsor, LLC, associated with Irenic Acquisition Corp., reports holding 6,325,000 Class B ordinary shares, which are convertible into the issuer’s Class A ordinary shares as described in its Form S-1 registration statement.
The holding includes up to 825,000 Class B ordinary shares subject to forfeiture depending on how much of the underwriters’ over-allotment option is exercised in the initial public offering. The sponsor is the record holder; managers including CEO Adam Katz and others disclaim beneficial ownership under the “rule of three,” though Katz is deemed to have a pecuniary interest through an affiliated fund.
Irenic Acquisition Corp. director and President Wang E-Fei has filed an initial Form 3, which is a statement of beneficial ownership for insiders. The filing lists Wang as both a director and officer but does not report any share purchases, sales, or other transactions.
Irenic Acquisition Corp. director Kirk S. Hachigian filed an initial ownership report on Form 3. This filing identifies him as a director of the company but does not list any specific stock or derivative holdings and shows no buy, sell, or other reportable transactions.
Irenic Acquisition Corp. filed an initial Form 3 identifying Lawson Larry A as a reporting person in his role as a director. This filing establishes his status under insider reporting rules but does not report any purchases, sales, or other transactions, and shows no derivative positions.
Irenic Acquisition Corp. Chief Financial Officer Matthew Kupersmith filed an initial Form 3 insider ownership report. The filing lists him as an officer but shows no reported transactions, exercises, gifts, or restructurings and no derivative positions in this snapshot.
Irenic Acquisition Corp. filed a Form 3 for director Paul R. Adams, serving as an initial statement of his beneficial ownership as a company insider. The filing lists no buy, sell, or other share transactions, indicating it is a baseline disclosure rather than a trading report.