Iron Spark I, a blank check company targeting the branded consumer sector, raised $150 million by offering 15 million shares at $10. The company offered 2.5 million fewer shares than anticipated. It did not offer units with warrants attached.
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 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. 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 plans to list on the Nasdaq under the symbol ISAA. Morgan Stanley acted as a lead manager on the deal.
