Iris Acquisition Corp II SPAC IPO Makes it 2 For February. EQV Ventures Transcript.

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TODAY’S SPAC IPOs

SPAC IPO: Iris Acquisition Corp II (IRAB)
Ticker: IRAB (Units: IRABU)
Size: $150 Million
Sponsor: Iris Acquisition Holdings II LLC (Arrow Capital)

Iris Acquisition Corp II priced its $150 million initial public offering on February 2, 2026, and begins trading on the NYSE today. This is the second blank-check vehicle from Dubai-based Arrow Capital, following the successful business combination of its predecessor, Iris Acquisition Corp, with Liminatus Pharma (LIMN) in early 2025. The sponsor continues to leverage its “global generalist” strategy, positioning itself as a cross-border bridge for mid-market companies seeking U.S. capital markets exposure.

Strategy: The SPAC maintains a sector-agnostic mandate but will prioritize high-growth verticals where the team holds deep domain expertise. Key areas of interest include Technology, Media, and Telecommunications (TMT), Fintech, EdTech, and Logistics. The management team intends to focus on private companies that require operational rigor and a public platform to unlock accelerated growth, particularly those with cross-border operations in North America, Europe, or the Middle East.

Leadership Team:

• Sumit Mehta (CEO): Co-founder and Managing Director of Arrow Capital. A veteran of cross-border M&A with over 20 years of experience, Mehta led the first Iris vehicle through its merger with Liminatus.
• Lisha Parmar (CFO): Vice President at Arrow Capital. Parmar specializes in transaction structuring and due diligence, with a track record across the technology and consumer care sectors.
• Rohit Nanani (Chairman): Founder and CEO of Arrow Capital, providing the vehicle with extensive institutional reach across global private equity and debt markets.

Structure: 15 million units at $10.00. Each unit consists of one Class A ordinary share and one-half (1/2) of one redeemable warrant. Each whole warrant is exercisable for one Class A ordinary share at $11.50. By offering a half-warrant structure, the deal provides a standard incentive for yield-seeking investors while managing potential future dilution for the eventual merger partner. Cohen & Company Capital Markets acted as the sole book-running manager for the offering.

DAILY SPAC UPDATE

SPAC NEWS
FTW – EQV VENTURES ACQUISITION CORP * Media Transcript

SPAC LIQUIDATIONS
AA Mission Acquisition Corp. (AAM)-> Liquidation on Feb 13
Cartica Acquisition Corp (CITE)-> Liquidation on Feb 07

SEPARATE WARRANTS/RIGHTS
Feb 06: TGE VALUE CREATIVE SOLUTIONS CORP (BEBE)
Feb 04: LAFAYETTE DIGITAL ACQUISITION CORP I (ZKP)
Feb 02: BLUEROCK ACQUISITION CORP (BLRK)

SPAC MOVERS

YESTERDAY’S TOP SPAC GAINERS
8.0% ~ $ 7.83 | RDAC – RISING DRAGON ACQUISITION CORP (Announced)
3.7% ~ $ 14.00 | CCCX – CHURCHILL CAPITAL CORP X (Announced)
2.2% ~ $ 53.75 | AFJK – AIMEI HEALTH TECHNOLOGY CO LTD (Announced)
2.1% ~ $ 11.89 | QETA – QUETTA ACQUISITION CORP (Pre-Deal)
1.6% ~ $ 10.64 | HSPT – HORIZON SPACE ACQUISITION II CORP (Announced)

YESTERDAY’S TOP SPAC LOSERS
-10.7% ~ $ 12.55 | ASPC – ASPAC III ACQUISITION CORP (Announced)
-1.8% ~ $ 11.46 | WLAC – WILLOW LANE ACQUISITION CORP (Announced)
-1.8% ~ $ 10.43 | PELI – PELICAN ACQUISITION CORP (Announced)
-1.4% ~ $ 10.78 | SVAC – SPRING VALLEY ACQUISITION CORP III (Announced)
-.7% ~ $ 13.90 | PCSC – PERCEPTIVE CAPITAL SOLUTIONS CORP (Pre-Deal)

LATEST SPAC IPO PERFORMANCE
Feb 03 | IRAB – Iris Acquisition Corp II
Feb 02 | WPAC – White Pearl Acquisition Corp
Jan 30 | TBD – Muzero Acquisition Corp
Jan 30 | NBRG – Newbridge Acquisition Ltd
Jan 30 | MEVO – M Evo Global Acquisition Corp II
Jan 29 | UAC – United Acquisition Corp. I
Jan 29 | XSLL – Xsolla SPAC 1
Jan 29 | KII – K2 Capital Acquisition Corp
Jan 28 | $ 10.15 | KRAQ – KRAKacquisition Corp
Jan 28 | $ 10.21 | SAAQ – Space Asset Acquisition Corp.
Jan 27 | $ 10.05 | GIX – GigCapital9 Corp.
Jan 27 | $ 10.01 | MLAA – Mountain Lake Acquisition Corp. II
Jan 23 | $ 9.98 | PTOR – Praetorian Acquisition Corp.
Jan 23 | HLXC – Helix Acquisition Corp. III
Jan 23 | $ 10.15 | ARCI – Archimedes Tech SPAC Partners III Co
Jan 23 | $ 10.03 | LEGO – Legato Merger Corp. IV
Jan 22 | $ 10.04 | ALOV – Aldabra 4 Liquidity Opportunity Vehicle, Inc.
Jan 21 | $ 9.99 | XCBE – X3 Acquisition Corp. Ltd.
Jan 16 | $ 10.00 | FGII – FG Imperii Acquisition Corp
Jan 16 | $ 10.22 | IEAG – Infinite Eagle Acquisition Corp.
Jan 14 | $ 10.11 | OIM – OneIM Acquisition Corp.
Jan 09 | $ 10.00 | ZKP – Lafayette Digital Acquisition Corp. I
Jan 08 | $ 10.15 | BBCQ – Bleichroeder Acquisition Corp. II
Jan 07 | $ 9.98 | SORN – Soren Acquisition Corp.
Jan 06 | $ 10.15 | BIII – Black Spade Acquisition III Co
Jan 06 | $ 10.00 | ARTC – Art Technology Acquisition Corp.