Integrated Rail and Resources Acquisition wrapped up its IPO of 23 million units, including 3 million units issued to the underwriters through the exercise of their over-allotment option. The units list on the NYSE and trade under IRRXU.
The SPAC intends to concentrate its search for a target business operating in bulk commodities, such as North American railroad companies that transport bulk commodities, terminal companies that transload bulk commodities to and from railroads and pipelines, trucks, and ports, and companies that produce bulk commodities.
Each unit consists of one share of Class A common stock and one-half of a warrant.
Stifel, Nicolaus was sole book-running manager for the offering. Roberts and Ryan Investments, was a co-manager. Read more.
