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Ibere Pharmaceuticals (NYSE: IBER) received a notice from the NYSE regarding non-compliance with filing requirements due to the delayed submission of its Quarterly Report for Q1 2021, originally due on May 10, 2021. This delay results from necessary adjustments in the accounting treatment of warrants, which must now be classified as liabilities instead of equity. The NYSE allows six months to regain compliance, and the company's stock listing is unaffected at this time. Ibere raised $138 million in its IPO in March 2021.
Ibere Pharmaceuticals announced the commencement of separate trading for its Class A ordinary shares and redeemable warrants from April 19, 2021. This follows the completion of their initial public offering on March 2, 2021, where they sold 13,800,000 units at $10.00 each, raising $138 million. The units will continue to trade under the symbol 'IBERU', while the Class A shares and warrants will trade under 'IBER' and 'IBERW', respectively. No fractional warrants will be issued upon separation, and holders must contact their brokers to separate the units.
Ibere Pharmaceuticals priced its upsized initial public offering at $10.00 per unit, totaling $120 million. The offering consists of 12,000,000 units, with each unit including one Class A ordinary share and half a redeemable warrant, which can be exercised for one share at $11.50. Trading on the NYSE starts today under the ticker symbol IBERU. The Company plans to focus on acquisition opportunities in the pharmaceutical and life sciences sectors. Underwriters have a 45-day option to purchase an additional 1,800,000 units.
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