Monitor for business combination announcement; SPAC has 24 months to deploy trust capital. Current trust value provides a floor near $10.00 per public share.
Price Chart
Executive Summary
Irenic Acquisition Corp. completed its initial public offering of 25,253,188 units (including partial over-allotment exercise) at $10.00 per unit, generating aggregate gross proceeds of $252,531,880 held in trust. The SPAC has 24 months to identify and complete a business combination, focusing on aerospace, defense, and industrial sectors.
Key Facts
- IPO of 22,000,000 units closed April 29, 2026, at $10.00/unit, gross proceeds $220,000,000.
- Over-allotment partially exercised on May 1, 2026, for 3,253,188 additional units at $10.00/unit, gross proceeds $32,531,880.
- Total trust account balance post-over-allotment: $252,531,880.
- Private placement units sold: 705,064 units at $10.00/unit, gross proceeds $7,050,640.
- Company has 24 months from IPO to complete a business combination; no operations to date.
- Focus on aerospace, defense, and industrial sectors.
Financial Impact
Gross proceeds of $252.5 million raised and held in trust, with $1.09 million in cash outside trust for working capital.
Risk Factors
- Failure to complete a business combination within 24 months would trigger liquidation and redemption of public shares.
- No identified target yet; competition for quality targets may delay or dilute returns.
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-056907 |
| Document: tm2613592d1_8k.htm | 0001104659-26-056907 |
| Document: tm2613592d1_ex99-2.htm | 0001104659-26-056907 |
| Document: 0001104659-26-056907-index-headers.html | 0001104659-26-056907 |
| Document: 0001104659-26-056907-index.html | 0001104659-26-056907 |
| Document: 0001104659-26-056907.txt | 0001104659-26-056907 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 7, 2026 24w ago | 8-K | $10.02 $10.04 | ▲ +0.20% | ▲ +0.18% | $10.07 (+0.50%) |
May 7, 2026 24w ago | 8-K | $10.02 $10.04 | ▲ +0.20% | ▼ −2.94% | $10.07 (+0.50%) |
US Market Status
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