Iron Dome Acquisition I Corp. (IDACU), on Thursday announced the pricing of its initial public offering of 15 million units at $10 per unit, for gross proceeds of $150 million.
The offering is expected to close on May 18.
The company said that each unit consists of one Class A ordinary share and one-half of one redeemable warrant.
And each whole warrant entitles the holder to purchase one Class A ordinary share at $11.50 per share.
The units are expected to begin trading on the Nasdaq Global Market on May 15 under the ticker symbol "IDACU."
The company also granted the underwriters a 45-day option to purchase up to an additional 2.25 million units, if any, to cover over-allotments.
Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to trade under the symbols "IDAC" and "IDACW," respectively.
The company said it intends to focus its search for an initial business combination target in the cybersecurity, defense technology, artificial intelligence, and data infrastructure sectors.
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