Iron Spark I, a blank check company targeting the branded consumer sector, filed on Tuesday with the SEC to raise up to $175 million in an initial public offering.
The Jackson, WY-based company plans to raise $175 million by offering 17.5 million units at $10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Iron Spark I will command a market value of $219 million.
The company is led by Chairman Amy Butte, who currently serves on the boards of Bain Capital Specialty Finance, Tuscan Holdings, DigitalOcean, and BNP Paribas USA; CEO and Director Joshua Spear, who has been an accomplished early stage investor in companies such as Uber, Twitter, Grand Street, and Warby Parker, among others; and CFO and COO Alexander Oxman, who previously founded Winc in 2011 and served as CEO until 2018. Professional skateboarder and entrepreneur Tony Hawk will serve on the advisory board. Iron Spark I intends to target businesses in the branded consumer sector, with a specific focus on verticals that align with the experiences and core competencies of the management and advisory teams: Athletics and Sport-Culture, Apparel and Accessories, and Food, Wellness, and Lifestyle.
Iron Spark I was founded in 2021 and plans to list on the Nasdaq under the symbol ISAAU. Oppenheimer & Co. is the sole bookrunner on the deal.
