Iron Dome Acquisition Raises $150M in 15M-Unit IPO with $11.50 Warrants
Iron Dome Acquisition I Corp. raised $150 million by selling 15 million units at $10 each, with each unit comprising one Class A share and half a warrant exercisable at $11.50 per share. The SPAC intends to target mergers in cybersecurity, defense technology, artificial intelligence and data infrastructure.
1. IPO Closing Details
Iron Dome Acquisition I Corp. completed an initial public offering of 15 million units at $10 per unit, generating $150 million in gross proceeds. Each unit consists of one Class A ordinary share and one-half of a redeemable warrant, with each full warrant exercisable to purchase a share at $11.50. The combined securities began trading under the single symbol and are expected to separate into Class A shares and warrants on Nasdaq under distinct symbols.
2. Acquisition Objectives
The company was formed to effect a business combination, merger, share exchange or similar transaction. It plans to focus its search on potential targets within cybersecurity, defense technology, artificial intelligence and data infrastructure industries, though it may pursue opportunities in any sector or geographic region.
3. Underwriting and Over-Allotment
Santander acted as the sole book-running manager for the offering. The underwriters have a 45-day option to purchase up to 2.25 million additional units at the IPO price to cover any over-allotments.