Iron Dome Acquisition I Corp. (IDACU) sponsor acquires 2.75M warrants
Rhea-AI Filing Summary
Iron Dome Acquisition I Corp. reported that its sponsor entity, Iron Dome Acquisition I Parent LLC, purchased 2,750,000 Private Placement Warrants in connection with the company’s initial public offering. The sponsor paid $1.00 per warrant, for an aggregate of $2,750,000, and now holds 2,750,000 warrants.
Each Private Placement Warrant allows the holder to buy one Class A ordinary share at $11.50 per share, starting 30 days after the company completes its initial business combination and expiring five years after that date. Director and CFO Matthew J. Norden is associated with the sponsor and may be deemed to share beneficial ownership, although he disclaims beneficial ownership beyond any pecuniary interest.
Positive
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Warrant | 2,750,000 | $0.00 | -- |
Footnotes (1)
- Simultaneously with the consummation of the Company's initial public offering, Iron Dome Acquisition I Parent LLC (the "Sponsor") acquired, at a price of $1.00 per warrant, 2,750,000 warrants (the "Private Placement Warrants") in a private placement for an aggregate purchase price of $2,750,000. Each Private Placement Warrant entitles the holder thereof to purchase one Class A ordinary share at $11.50 per share, subject to adjustment. The Sponsor is the record holder of the shares reported herein. Mr. Norden, the issuer's Chief Financial Officer and director, is the sole member of Iron Dome Acquisition I Manager LLC, the managing member of the Sponsor, and makes all investment and voting decisions with respect to the securities held the Sponsor. As such, Mr. Norden may be deemed to have or share beneficial ownership of the securities held directly by the Sponsor. Mr. Norden disclaims any beneficial ownership of the reported securities other than to the extent of any pecuniary interests Mr. Norden may have therein, directly or indirectly. The Private Placement Warrants will become exercisable at any time commencing 30 days after the completion of the Company's initial business combination. The Private Placement Warrants will expire five years after the completion of the Company's initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.