Iris Acquisition Corp II closes $168.5M IPO; trust funded at $10 per unit

Iris Acquisition Corp II

IPO of 16.85M units at $10/unit; gross proceeds $168.5M; over-allotment partially exercised for 1.85M units.
Private placement of 438,000 units to sponsor and underwriter generated $4.38M in additional proceeds.
Net proceeds of $168.5M placed in trust account; transaction costs totaled $10.6M including $6.74M deferred underwriting fee.
Sponsor forfeited 133,333 Class B shares; Company has 24 months to complete a business combination.
Working capital of $788,450 as of Feb 4; no operations yet; SPAC targets a business combination.

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