Iron Horse Acquisitions Corp. Announces Closing of Initial Public Offering
December 29 2023 - 4:05PM
Business Wire
Iron Horse Acquisitions Corp. (NASDAQ: IROHU) (the “Company”)
announced today that it has closed its initial public offering of
6,900,000 units at $10.00 per unit, which includes 100,000 units
registered pursuant to Rule 462(b) under the Securities Act of
1933, as amended, and 800,000 units offered by the Company to cover
over-allotments, generating total gross proceeds, inclusive of the
additional registered units and the partial exercise of the
overallotment option, of $69,000,000. The offering was completed
without any overfund to the trust account, marking a substantive
step forward for the first-time SPAC sponsor versus previous
issuances in 2022 and 2023. Each unit consists of one share of
common stock, one full warrant, and one right to receive one-fifth
(1/5th) of one share of common stock upon the consummation of an
initial business combination.
The Company’s units are listed on The Nasdaq Global Market
(“NASDAQ”) and began trading under the ticker symbol “IROHU” on
December 27, 2023. Once the securities comprising the units begin
separate trading, the common stock, warrants, and rights are
expected to be listed on NASDAQ under the symbols “IROH,” “IROHW,”
and “IROHR,” respectively.
EF Hutton LLC (“EF Hutton”) acted as sole book running manager
in the offering and Brookline Capital Markets, a division of
Arcadia Securities, LLC, acted as co-manager in the offering. Ken
Winterbottom and Jason Harmon of Zarren Law Group, LLC served as
legal counsel to the Company while Dave Levine and Mitchell
Nussbaum of Loeb & Loeb LLP served as counsel to EF Hutton.
A registration statement on Form S-1 and a registration
statement on Form S-1MEF relating to these securities have been
filed with the U.S. Securities and Exchange Commission (the “SEC”)
and were declared effective on December 26, 2023 and December 27,
2023, respectively. The offering was made only by means of a
prospectus, copies of which may be obtained from EF Hutton, Attn:
Syndicate Department, 590 Madison Ave., 39th floor, New York, NY
10022, by telephone at (212) 404-7002, by fax at (646) 861-4697, or
by email at syndicate@efhuttongroup.com. Copies of the registration
statement, prospectus and other offering materials can be accessed
through the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Iron Horse Acquisitions Corp.
Iron Horse Acquisitions Corp. is a diverse-led, media &
entertainment focused blank check company founded by Jose A.
Bengochea, who is also the Company’s CEO, and led by the CEO, along
with COO Bill Caragol, CFO Jane Waxman, Chairman Brian Turner, and
Independent Directors Ken Hertz, Scott Morris, and Lisa Harrington,
formed for the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses. The Company’s efforts to
identify a prospective target business will not be limited to a
particular industry or geographic region, although the Company is
comprised of several media, entertainment, tech, and public markets
specialists who boast a wide array of contacts and experiences
across the ever-evolving space. Iron Horse Acquisitions Corp. will
examine deals spanning several verticals, including but not limited
to production studios, celebrity-backed content creators,
talent-facing consumer products, gaming, fantasy sports, music
rights aggregators, music licensors, international music labels,
K-POP, AI, social media marketers, talent management & talent
services, and more.
Forward Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
Company’s initial public offering, the anticipated use of the net
proceeds thereof and the Company’s search for an initial business
combination. No assurance can be given that the net proceeds of the
initial public offering will be used as indicated. Forward-looking
statements are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in the
Risk Factors section of the Company’s registration statement and
prospectus for the initial public offering filed with the SEC. The
Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231228781533/en/
Iron Horse Acquisitions Corp. Jose Antonio Bengochea Founder and
CEO P.O. Box 2506 Toluca Lake, CA 91610 (310) 290-5383
Iron Horse Acquisition (NASDAQ:IROHU)
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