Stock report · Delisted · NYSE
Ibere Pharmaceuticals (IBER)
Delisted Delisted – liquidated · last traded March 1, 2023
IBER no longer trades. Ibere Pharmaceuticals, a life sciences focused blank check company, redeemed its public shares for about $10.17 each, with its shares ceasing to trade on March 1, 2023.
Delisting details
- Exchange (former)
- NYSE
- Status
- Delisted – liquidated
- Last trading day
- March 1, 2023
- Reason
- Liquidated after failing to complete a business combination
- Consideration
- About $10.17 per public share in cash from the trust account
- Sector
- Financial Services
- Industry
- Shell Companies
- Headquarters
- Philadelphia, Pennsylvania
About Ibere Pharmaceuticals
Ibere Pharmaceuticals was a special purpose acquisition company formed to merge with a pharmaceutical or life science business. Its sponsor, PIPV Capital, was led by Osagie Imasogie, Lisa Gray and Zoltan Kerekes, a group that had earlier run GlaxoSmithKline's venture investing arm. The company was based in Philadelphia, Pennsylvania.
Ibere completed its initial public offering on February 25, 2021, raising an upsized $120 million by selling units on the NYSE. The units later separated into Class A shares, which traded under the symbol IBER, and warrants. The offering proceeds were placed in a trust account while management searched for a drug developer or other life science company to take public.
The SPAC market cooled sharply in 2022 as share prices of many recently merged companies fell and investors redeemed heavily ahead of deal votes. Ibere did not announce a definitive merger agreement within the time allowed by its charter.
In February 2023 the company said it would liquidate and redeem all of its public shares. The shares stopped trading on March 1, 2023, and the redemption took effect at the end of business on March 2, 2023 at about $10.17 per share. The warrants expired with no value, and the company was removed from the NYSE and dissolved.
Ibere Pharmaceuticals FAQ
What happened to Ibere Pharmaceuticals stock?
Ibere Pharmaceuticals, a life sciences focused blank check company, redeemed its public shares for about $10.17 each, with its shares ceasing to trade on March 1, 2023.
Can I still buy IBER stock?
No. IBER is no longer listed on the NYSE or any other U.S. exchange.
What did Ibere Pharmaceuticals shareholders receive?
Shareholders received About $10.17 per public share in cash from the trust account.
IBER no longer trades, so there is no live quote or chart. The information on this page is for reference only and is not investment advice; see our disclaimer.