ION Acquisition Corp 3 Ltd.
IACC
New York Stock Exchange10.04
USD
-0.01
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ION Acquisition Corp 3 Ltd.
IACC
(New York Stock Exchange)
Recent
price
10.04
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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- Business
- ION Acquisition Corp 3 Ltd. is a blank check company sponsored by an affiliate of ION Asset Management Ltd. that focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, particularly Israeli companies and entrepreneurs applying technology and innovation to everyday lives; it conducts no significant operations prior to completing an initial business combination. Incorporated in 2021 as a Cayman Islands exempted company, the firm raised $253 million in its initial public offering in April 2021, with shares listed on the New York Stock Exchange under the ticker IACC and headquartered at 89 Medinat Hayehudim Street, Herzliya, Israel. Core activities encompass identifying and pursuing de-SPAC transactions in the technology sector within emerging Europe, Middle East, and Africa geographies, supported by forward purchase agreements for up to $120 million in additional Class A ordinary shares at $10.00 per share upon deal closure; underwritten by Morgan Stanley, Goldman Sachs, and AmeriVet Securities, with Continental Stock Transfer & Trust Company as trustee. In recent major changes, ION Acquisition Corp 3 Ltd. sought shareholder approval in November 2022 to amend its charter and trust agreement to accelerate liquidation from May 2023 to November 17, 2022, enabling earlier redemption of public shares at approximately $10.06 each from its trust account holding over $254 million; the company subsequently liquidated without completing a business combination, with its status listed as dissolved.
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