Integrated Rail and Resources Acquisition priced its IPO of 20 million units at $10 each. Units begin trading today on the NYSE under IRRXU.
The company is sponsored by DHIP Natural Resources Investments.
Integrated Rail and Resources intends to concentrate on 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 and one-half of a warrant.
Stifel, Nicolaus is sole book-running manager for the offering and Roberts and Ryan Investments is co-manager. The underwriters have the option to purchase up to an additional 3 million units. Read more.
