Israel Acquisitions Corp. Announces Exercise of Full Overallotment Option from Initial Public Offering
Israel Acquisitions Corp. has executed the over-allotment option from its initial public offering, leading to a total of $146,625,000 being placed into a U.S.-based trust account for Class A shareholders. The IPO, which took place on January 13, 2023, allows each unit to consist of one Class A ordinary share and a warrant to buy an additional share at $11.50. The securities will soon be traded separately under the symbols ISRL and ISRLW. The offering's closure is anticipated by January 18, 2023, contingent on closing conditions being met.
- Successfully raised $146,625,000 through over-allotment, enhancing cash reserves for potential acquisitions.
- Focus on high-growth technology sectors within Israel presents future revenue opportunities.
- Potential market volatility as securities transition to individual trading, which could impact share prices.
BEE CAVE, Texas, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Israel Acquisitions Corp. (the "Company") announced today the exercise of the over-allotment option granted to the underwriters in the Company's initial public offering which upon closing, will result in
The Company's units were listed on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "ISRLU” on January 13, 2023. Each unit consists of one Class A ordinary share and one warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of
A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on January 12, 2023. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The initial public offering is expected to close, subject to the satisfaction of closing conditions, on January 18, 2023.
About Israel Acquisitions Corp.
Israel Acquisitions Corp. is a Cayman Islands exempted company incorporated as a blank-check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company intends to focus on high-growth technology companies that are domiciled in Israel, and that either carry out all or a substantial portion of their activities in Israel or have some other significant Israeli connection. The management team is led by Chairman, Izhar Shay, Chief Executive Officer, Ziv Elul, and Chief Financial Officer, Sharon Barzik Cohen.
Forward Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering. Forward-looking statements are subject to numerous conditions, including the satisfaction of closing conditions and others which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact Info:
Alex Greystoke
alex@israelspac.com
800-508-1531
FAQ
What is the over-allotment option exercised by Israel Acquisitions Corp.?
When will the IPO of Israel Acquisitions Corp. close?
What are the trading symbols for Israel Acquisitions Corp. after the IPO?
What is the purpose of Israel Acquisitions Corp.?
