Iron Dome Acquisition I Corp. (IDAC)

Iron Dome Acquisition I Corp. is a special purpose acquisition company, also called a blank-check company. It was formed to raise capital through an initial public offering and then use the proceeds to complete a merger, share exchange, asset acquisition or similar business combination with one or more operating businesses.

Its Class A ordinary shares trade on the Nasdaq under the symbol IDAC. Like other SPACs, the company has no operating business of its own; the money raised in its offering is generally held in a trust account until a business combination is completed or the company is liquidated. The outcome for shareholders depends on whether a suitable target is identified and approved within the deadline set out in its governing documents.