Iron Horse Acquisitions Corp. (IROHU) increased the size of its SPAC IPO at pricing to 6.1 million units – up from 6.0 million – and priced the deal at $10.00 per unit to raise $61.0 million on Tuesday night (Dec. 26, 2023). Each unit consists of one share of common stock, one warrant to buy one share of stock and one right to receive one-fifth (1/5) of a share of stock upon consummation of the initial business combination.
Iron Horse Acquisitions Corp.’s stock ended its first day of NASDAQ trading at $10.03 – up 3 cents or 0.3 percent from its SPAC IPO price – on volume of 6.1 million shares. The opening trade was $10.04 – up 4 cents from the SPAC IPO price – at 10:45 a.m. EST on Wednesday, Dec. 27, 2023, on volume of more than 740,000 shares, NASDAQ records show.
EF Hutton was the sole book-runner.
At pricing, Iron Horse Acquisitions Corp. became the 31st SPAC IPO priced in 2023. It was the third SPAC IPO priced in December, following Aimei Health Technology (AFJKU) and Bayview Acquisition Corp. (BAYAU).
Iron Horse Acquisitions Corp., based in Toluca Lake, California, will focus on the media and entertainment industry in its search for a target company for an initial business combination.
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