Iron Horse Acquisitions priced its initial public offering of 6.1 million units at $10 each.
The SPAC has said it will focus on the media and entertainment sector, in particular on identifying attractive targets among content studios and film production, family entertainment, animation, music, gaming, e-sports, talent management, talent-facing brands and businesses. Iron Horse in October withdrew a planned $100 million IPO then refiled two days later for the current offering.
Chairman Brian Turner is former CFO of Coinstar. Iron Horse CFO Jane Waxman is a former deputy CEO of 20th Century Fox.
Units list on the Nasdaq and began trading today under the ticker symbol IROHU. Each consists of one share, a warrant, and one right to receive one-fifth of a share upon completion of an initial business combination. Once the securities begin separate trading, stock, warrants and rights will trade under the symbols IROH, IROHW and IROHR, respectively.
EF Hutton is sole book-running manager in the offering. Brookline Capital Markets is co-manager. The underwriter has been granted a 45-day option to purchase up to an additional 900,000 units offered by the Company to cover over-allotments, if any. The offering is expected to close Dec. 28. Read more.
