Irenic Acquisition, a blank check company formed by Irenic Capital Management targeting aerospace and defense, raised $220 million by offering 22 million units at $10. Each unit consists of one share of common stock, and one-third of one warrant to purchase a share, exercisable at $11.50.
Irenic Acquisition is led by CEO and Director Adam Katz, co-founder and CIO of investment firm Irenic Capital Management. The SPAC plans to target businesses in the aerospace, defense, and broader industrial sectors.
The New York, NY-based company will trade on the Nasdaq under the symbol IACQU. Jefferies acted as sole bookrunner on the deal.
