Iris Acquisition II, a blank check company led by executives from Arrow Capital targeting small to mid-market businesses, raised $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of one warrant.
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 (LIMN; -94.3% from $10 offer price) this past April.
Iris Acquisition II plans to list on the NYSE under the symbol IRABU. Cohen & Company Securities acted as sole bookrunner on the deal.
