Media and entertainment SPAC Iron Horse Acquisitions prices upsized $61 million IPO

Iron Horse Acquisitions, a blank check company targeting media and entertainment in the US, raised $61 million by offering 6.1 million units at $10. The company offered 0.1 million more units than anticipated. Each unit consists of one share of common stock, one right to receive one-fifth of a share upon the completion of an initial business combination, and one warrant, exercisable at $11.50.

Iron Horse Acquisitions is led by CEO and Director Jose Bengochea, the founder and CEO of Bengochea Capital, and Chairman Brian Turner, the former CFO of Coinstar. They are joined by CFO and Director Jane Waxman, the former EVP and Deputy CFO of 20th Century Fox. The company plans to target media and entertainment opportunities in the US, with a particular focus on content studios and film production, family entertainment, and animation, among other areas.

Iron Horse Acquisitions plans to list on the Nasdaq under the symbol IROHU. EF Hutton acted as sole bookrunner on the deal.