Iris Acquisition Corp II, a newly formed special purpose acquisition company, completed its initial public offering. The company sold 16,850,000 units at $10.00 per unit, including 1,850,000 units from a partial over-allotment exercise, generating gross proceeds of $168,500,000.
Each unit contains one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable at $11.50 per share. A total of $168,500,000 from the IPO and related private placement was deposited into a trust account for the benefit of public shareholders.
The company also completed a private placement of 438,000 units for $4,380,000, appointed four new directors, and adopted amended and restated charter documents in connection with the IPO.
Nanani Rohit reported multiple insider transaction types in a Form 4 filing for IRAB. The filing lists transactions totaling 509,833 shares. Following the reported transactions, holdings were 5,616,667 shares.
Mehta Sumit reported multiple insider transaction types in a Form 4 filing for IRAB. The filing lists transactions totaling 509,833 shares. Following the reported transactions, holdings were 5,616,667 shares.