Irenic Acquisition Corp. completed a partial over-allotment exercise and additional private placement, raising $32.5 million and $0.65 million respectively, with proceeds deposited in trust.
Key takeaways
Underwriters partially exercised over-allotment option for 3,253,188 units at $10.00 each, generating $32.5 million gross proceeds.
Simultaneous private placement of 65,064 additional units to sponsor and underwriters raised $0.65 million.
Total trust account proceeds increased to $252.5 million after the transactions.
Sponsor forfeited 11,703 founder shares due to partial over-allotment exercise.
No underwriting discounts or commissions were paid on the private placement units.