Iris Acquisition II, a blank check company led by executives from Arrow Capital targeting small to mid-market businesses, filed on Monday with the SEC to raise up to $150 million in an initial public offering.
The company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
Iris Acquisition II is led by Chairman Rohit Nanani, co-founder and CEO of independent boutique asset management and investment advisory firm Arrow Capital, and CEO Sumit Mehta, co-founder and Managing Director at Arrow Capital, where he leads the Special Situations Group. The SPAC is targeting high-quality, small to mid-market companies.
Management's previous SPAC, Iris Acquisition, completed its combination with Liminatus Pharma (Nasdaq: LIMN; -49% from $10 offer price) this past April.
The Dubai, UAE-based company was founded in 2025 and plans to list on the Nasdaq but has not selected a symbol yet (RC ticker: IRACU.RC). Cohen & Company Securities is the sole bookrunner on the deal.
