Irenic Acquisition Corp. (IACQW) Warrant
Each IACQW warrant gives the holder the right to buy 1 share of Irenic Acquisition Corp. at $11.50 per share, for five years after the company completes its merger. The stock last closed at $9.95, below the strike, so the warrant is out of the money. Irenic Acquisition Corp. has a market value of about $321.10M. Irenic Acquisition Corp. is a SPAC (no deal announced yet). It must complete a deal by April 29, 2028 or the warrants expire worthless. There are 8.42M listed warrants; exercising all of them would add 26.1% to the 32.27M shares outstanding.
IACQ vs strike, last 12 months
No share-price history for IACQ yet.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- merger + 5 years
- Redemption trigger
- $18.00
- Cashless exercise
- allowed
- Break-even stock price
- $11.88
From the issuer's 424B4 (2026-04-28).
Company and stock
- Company
- Irenic Acquisition Corp.
- Underlying stock
- IACQ
- Share price
- $9.95
- Market cap
- $321.10M
- Shares outstanding
- 32.27M
- Value of all listed warrants
- $3.20M (1.0% of market cap)
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.3800
- Price / model
Get Pro to see whether IACQW is cheap or rich against our model.
Dilution
- Shares outstanding
- 32.27M
- Listed warrants
- 8.42M
- Dilution if all exercised
- 26.1%
Warrant count from filing text: public warrants.
SPAC deal
- Status
- no deal announced yet
- Target
- —
- Deal announced
- —
- Deadline
- 2028-04-29
- Latest possible deadline
- —
- Trust per share
- $10.06
- Sponsor
- Irenic Sponsor LLC
- Sponsor's earlier SPACs
- 0 (0 closed a deal)
- Chance of a deal
A SPAC warrant is worth nothing if no deal closes by the deadline.
Filings and events
Questions about IACQW
When does the IACQW warrant expire?
Five years after the SPAC completes its merger; if no merger closes by the deadline, the warrants expire worthless.
What is the strike price of IACQW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many IACQW warrants are outstanding?
8.42M listed warrants, equal to 26.1% dilution if all are exercised.