Iron Horse Acquisitions Corp. Announces Pricing Of $61M Initial Public Offering Of 6.1M Units At A Price Of $10/Unit
Portfolio Pulse from Benzinga Newsdesk
Iron Horse Acquisitions Corp. (NASDAQ:IROHU) has priced its initial public offering (IPO) at $10 per unit, aiming to raise $61 million through the sale of 6.1 million units. Each unit includes one share of common stock, one warrant, and one right to receive one-fifth of a share upon a business combination. The units will trade on NASDAQ under the symbol 'IROHU' starting December 27, 2023, with separate trading of the common stock, warrants, and rights under the symbols 'IROH', 'IROHW', and 'IROHR'. EF Hutton LLC is the sole book-running manager, and Brookline Capital Markets is the co-manager. The underwriters have an option to purchase up to an additional 900,000 units to cover over-allotments. The offering is expected to close on December 28, 2023.
December 27, 2023 | 2:09 pm
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Iron Horse Acquisitions Corp. has announced the pricing of its IPO at $10 per unit, with the intention to raise $61 million. The units will begin trading on NASDAQ under the symbol 'IROHU'.
The announcement of an IPO pricing is a significant event for a company and typically generates investor interest. Given that the IPO is priced at the standard $10 per unit, it suggests confidence in the offering. The short-term impact is likely to be positive as investors may look to participate in the IPO, potentially driving initial demand for IROHU units.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100