Integrated Rail and Resources Acquisition Corp. announced the pricing of its $200 million IPO and its units are expected to begin trading on the NYSE under the symbol “IRRX.U” Friday, November 12.
The new SPAC intends to focus on companies that produce bulk commodities and/or transports bulk commodities, with a particular focus on businesses that integrate natural resources and transportation services. Integrated Rail and Resources is led by CEO and Chairman Richard D. Bertel, President, COO and Vice Chairman Mark A. Michel, SVP and CFO Chris A. Bertel, SVP and Chief Acquisition Officer Timothy J. Fisher, SVP and General Counsel Robert L. Bach, VP of Infrastructure Analysis Mark W. Hemphill, and VP of Commercial Analysis Michael Haeg.
Total SPAC deal count for 2021 year-to-date is now 540. This offering is expected to close on Tuesday, November 16.
Stifel, Nicolaus & Company, Incorporated is serving as sole book-running manager for the initial public offering and Roberts and Ryan Investments, Inc. is acting as a co-manager. Reed Smith LLP is serving as Issuer’s Counsel with Sidley Austin LLP serving as Underwriter’s Counsel. Marcum, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
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