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OFFON

IRON SPARK I INC.

(ISAA)
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IRON SPARK I INC. : Other Events (form 8-K)

06/17/2021 | 04:36pm EDT

Item 8.01 Other Events

As previously disclosed on a Current Report on Form 8-K dated June 8, 2021, on June 11, 2021, Iron Spark I Inc. (the "Company") consummated its initial public offering (the "IPO") of 15,000,000 shares of Class A common stock of the Company, par value $0.0001 per share (the "Class A Common Stock"). The Class A Common Stock was sold at a price of $10.00 per share, and the IPO generated gross proceeds of $ 150,000,000.

Simultaneously with the closing of the IPO, the Company consummated a private placement (the "Private Placement") with the Sponsor of 1,090,000 shares of Class A Common Stock (the "Private Placement Shares") at a price of $10.00 per Private Placement Share, generating gross proceeds to the Company of $10,900,000.

On June 16, 2021, the Company consummated the closing (the "Over-Allotment Closing") of its sale of an additional 1,680,000 shares of Class A Common Stock, pursuant to the partial exercise by the underwriters of their over-allotment option (the "Over-Allotment Option Shares"). The Over-Allotment Option Shares were sold at an offering price of $10.00 per share, generating gross proceeds of $16,800,000. Simultaneously with the partial exercise of the Over-Allotment Option, the Company sold an additional 100,800 private placement shares of Class A Common Stock to its sponsor, Iron Spark I LLC (the "Over-Allotment Private Placement"), generating gross proceeds to the Company of $1,008,000 (the "Over-Allotment Private Placement Shares").

As of June 16, 2021, a total of $173,472,000 of the net proceeds from the IPO, the Private Placement Shares, the Over-Allotment Option Shares, and the Over-Allotment Private Placement Shares was deposited in a trust account established for the benefit of the Company's public stockholders at JPMorgan Chase Bank, N.A., with Continental Stock Transfer & Trust Company, LLC, acting as trustee.

An audited balance sheet as of June 11, 2021 reflecting receipt of the proceeds upon consummation of the IPO and the Private Placement is included with this report as Exhibits 99.1.

© Edgar Online, source Glimpses

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Managers and Directors
Joshua L. Spear Chief Executive Officer & Director
Alexander P. Oxman Chief Operating & Financial Officer
Amy S. Butte Chairman
Trevor A. Edwards Director
Ruma Bose Director
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