Irenic Acquisition Corp.’s (NASDAQ:IACQ) Lock-Up Period Will End on October 26th

Irenic Acquisition’s (NASDAQ:IACQ) lock-up period will end on Monday, October 26th. Irenic Acquisition had issued 22,000,000 shares in its IPO on April 28th. The total size of the offering was $220,000,000 based on an initial share price of $10.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Analysts Set New Price Targets

Separately, Weiss Ratings assumed coverage on Irenic Acquisition in a research note on Monday, September 14th. They issued a “sell (e)” rating on the stock. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Irenic Acquisition Price Performance

NASDAQ:IACQ opened at $9.91 on Friday. Irenic Acquisition has a fifty-two week low of $9.89 and a fifty-two week high of $10.10. The company’s 50-day moving average price is $9.94.

Irenic Acquisition Company Profile

Irenic Acquisition Corp. is a special purpose acquisition company (SPAC) listed on the Nasdaq under the symbol IACQ. The company was formed to raise capital through a public offering and use those proceeds to pursue a business combination with an operating company.

Rather than developing or selling products and services of its own, Irenic Acquisition evaluates potential targets for a merger, acquisition, stock purchase, reorganization or similar transaction. Its objective is to identify a suitable private company and provide a path for that business to become publicly traded.

Until a transaction is completed, the company generally has no substantial operating business beyond managing its corporate affairs, evaluating acquisition opportunities and complying with public-company requirements.