Integrated Rail and Resoruces Acquisition registered with the SEC to offer 27.5 million units at $10 each. A unit consists of one share of Class A common stock and one-half of one redeemable warrant; whole warrants exercisable at $11.50 for a share.
Stifel is sole book-running manager. The underwriters have a 45-day option to purchase up to an additional 4.125 million units to cover any over-allotments.
The new SPAC in the filing said its focus is on North American railroad companies that transport bulk commodities, terminal companies that transload bulk commodities to and from railroads and pipelines, trucks, and ports, the companies that produce bulk commodities moved by railroads in large volumes, and the rail cars that are used to transport bulk commodities.
The company is led by CEO and Chairman Richard D. Bertel, co-founder, chairman and CEO of RGPC. Before founding RGPC in 1986, he founded Trax Engineering & Associates, an internationally operating civil engineering consultancy specializing in heavy-haul railway projects.
The SPAC intends to apply for a NYSE listing under IRRXU. Read more.
