Iron Dome Acquisition I Corp. has closed its initial public offering, selling 15 million units at $10 per unit and raising $150 million, the company said in a statement.
The special purpose acquisition company - organized to pursue mergers, share exchanges, asset acquisitions or other business combinations - had its units start trading on the Nasdaq Global Market on May 15, 2026. Each unit comprises one Class A ordinary share and one-half of one redeemable warrant. Two half-warrants combine to form one whole warrant, which permits the holder to purchase one Class A ordinary share at an exercise price of $11.50, subject to customary adjustments.
Iron Dome Acquisition I Corp. indicated that once the securities that make up the units begin to trade separately, it expects the Class A ordinary shares and the warrants to appear on Nasdaq under the symbols "IDAC" and "IDACW," respectively.
The company said it was formed with the intent of identifying and completing business combinations. Management plans to concentrate its search on companies operating in cybersecurity, defense technology, artificial intelligence and data infrastructure.
Santander acted as the sole book-running manager for the offering. The underwriting agreement includes a 45-day option for the underwriters to buy up to 2.25 million additional units at the initial public offering price to cover over-allotments.
The Securities and Exchange Commission declared the registration statement for the securities effective on May 14, 2026.
Context and structure of the offering
The deal was structured as a unit offering at $10 per unit, each unit pairing a Class A ordinary share with one-half of a redeemable warrant. Holders of two half-warrants may exercise a whole warrant to acquire a Class A ordinary share at $11.50, subject to adjustment. The underwriters’ 45-day over-allotment option allows up to an additional 2.25 million units to be sold at the IPO price, should the syndicate choose to exercise that option.
Strategic focus
Iron Dome Acquisition I Corp. defined its intended acquisition targets broadly within four technology-related sectors: cybersecurity; defense technology; artificial intelligence; and data infrastructure. The company’s stated purpose is to complete a business combination via merger, asset purchase, share exchange or similar transaction.
Regulatory milestone
The registration statement for the securities was declared effective by the Securities and Exchange Commission on May 14, 2026, allowing the company to proceed with the public offering and subsequent trading that began the following day.