Iris Acquisition Corp II

Iris Acquisition Corp II is a U.S.-based special purpose acquisition company formed to complete a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination. As a blank check company, it has no operating business of its own and exists to raise capital in an initial public offering and hold the proceeds in trust until it identifies a target company.

— Iris Acquisition Corp II
%
SPAC capital formation100% Public units and private placement units issued to fund the acquisition vehicle.
Trust account management0% Cash placed in trust pending a future business combination or redemption.

The company does not sell products or services to end customers in the normal operating sense...

  • Public IPO investorsprimary

    Buy units in the IPO for a share plus warrant exposure to a future business combination.

  • Sponsor and private placement investorsprimary

    Provide seed capital and private placement funding to support the SPAC structure.

  • Warrant investorssecondary

    Hold warrants that may become valuable if a successful merger closes and the stock performs.

Iris Acquisition Corp II is organized in the United States and its capital markets activity is centered on the U.S...

  • •United States is the incorporation and capital-raising base
  • •IPO and private placement were executed in U.S. markets
  • •No operating revenue geography is disclosed for the shell company
  • •Future target geography will depend on the business combination

The company’s strategy is to identify and complete a business combination with an operating business that can access...

01
Identify a suitable target companyshort-term

The SPAC has no operating business until it closes a transaction.

02
Complete a business combinationshort-term

Closing a deal is the core event that converts the shell into an operating company.

The main risk is that the company may not complete a business combination within the required timeframe, which could...

critical

Failure to complete a business combination

The company exists to find and close a merger; without one, it may liquidate.

Scope
Public shareholders and trust capital
Materiality
high
high

Dilution from warrants and founder economics

Public units, private placement units, and warrants can reduce per-share value.

Scope
Common equity holders
Materiality
high
high

Transaction execution and approval risk

A proposed deal must satisfy valuation, diligence, and shareholder approval hurdles.

Scope
Merger process
Materiality
high
Redeemable share classification
Affects balance sheet equity presentation and per-share analysis
Warrant fair value
Can create non-cash gains or losses in reported results
Trust account accounting
Affects liquidity presentation and available capital

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: 16.6.2026