Iron Horse (NASDAQ: IROHU) recently announced that it has closed its initial public offering of 6,900,000 units, each at $10.00, 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. The company generated total gross proceeds of $69,000,000, inclusive of the additional registered units and the partial exercise of the overallotment option. The offering was completed without any overfund to the trust account, marking a substantive step for the first-time SPAC sponsor versus previous issuances in 2022 and 2023. The company’s units are listed on the Nasdaq Global Market and began trading under the ticker symbol IROHU on Dec. 27, 2023. Once the securities comprising the units begin separate trading, the common stock, warrants and rights are expected to be listed on the Nasdaq under the symbols IROH, IROHW and IROHR, respectively. EF Hutton LLC acted as sole book running manager 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.
To view the full press release, visit https://ibn.fm/vvIMN
About Iron Horse Acquisitions Corp.
Iron Horse is a diverse-led, media and 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. The company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Iron Horse’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 and talent services, and more.
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