Idea Acquisition Corp.’s Quiet Period To Expire on March 23rd (NASDAQ:IACOU)

Idea Acquisition’s (NASDAQ:IACOU) quiet period is set to expire on Monday, March 23rd. Idea Acquisition had issued 35,000,000 shares in its IPO on February 11th. The total size of the offering was $350,000,000 based on an initial share price of $10.00. During Idea Acquisition’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Idea Acquisition Stock Down 0.1%

Shares of Idea Acquisition stock opened at $9.89 on Friday. Idea Acquisition has a one year low of $9.87 and a one year high of $9.99.

About Idea Acquisition

Idea Acquisition (NASDAQ: IACOU) is a special purpose acquisition company (SPAC), commonly known as a blank‑check company, whose units trade on the Nasdaq exchange under the ticker IACOU. As a SPAC, its principal business purpose is to raise capital through an initial public offering and to identify, negotiate and complete a business combination with one or more operating companies. The company’s publicly stated objective is to use the proceeds from its offering to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination.

Like other SPACs, Idea Acquisition’s activities center on sourcing potential acquisition targets, conducting due diligence, structuring transaction terms and obtaining shareholder approval for a proposed business combination.