Iron Spark I Closes $150M IPO

Iron Spark I

Iron Spark I announced today that it closed its IPO of 15 million shares, down from the 17.5 million initially registered in March for the offering. The shares list on the Nasdaq under ISAA.

Morgan Stanley acted as sole book-running manager in the offering. The underwriters have been granted a 45-day option to purchase up to an additional 2.25 million shares to cover any over-allotments.

Iron Spark’s initial S-1 registration noted that the offering of units would consist of one share of Class A common stock and one-half of one redeemable warrant per unit. However, in subsequent amended filings there is no further mention of warrants, nor is there any information about a ticker symbol for warrants in the SPAC’s latest statement on the closing of its IPO.

The new SPAC expects to target businesses in the branded consumer sector. 

Iron Spark is led by Chairwoman Amy Butte, who is on the board of Bain Capital Specialty Finance, a managed specialty finance company, and blank-check company Tuscan Holdings. Read more.


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