other material
confidence high
sentiment neutral
materiality 0.80
AI Infrastructure Acquisition Corp. closes upsized $138M IPO; $138M placed in trust
AI Infrastructure Acquisition Corp.
- IPO of 13,800,000 units at $10/unit raised gross proceeds of $138M; full over-allotment exercised.
- Private placement of 407,000 units to sponsor and Maxim Partners for $4.07M gross.
- $138M placed in trust; Company has 18 months from IPO closing to complete business combination.
- Joshua A. Adler and Peter Stoneberg appointed as independent directors and to all board committees.
- Sponsor AIIA Sponsor Ltd. is a minority-owned subsidiary of Jet.AI Inc. (NASDAQ: JTAI).