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IBERE PHARMACEUTICALS - IBER

  • Commons

    $9.77

    +0.21%

    IBER Vol: 405.0

  • Warrants

    $0.59

    +11.09%

    IBER+ Vol: 4.9K

  • Units

    $9.96

    -0.47%

    IBER= Vol: 0.0

Average: 0
Rating Count: 0
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SPAC Stats

Market Cap: 134.8M
Average Volume: 24.0K
52W Range: $9.60 - $9.95
Weekly %: +0.31%
Monthly %: +0.41%
Inst Owners: 38

Info

Target: Searching
Days Since IPO: 282
Unit composition:
Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one-half of one redeemable warrant
Trust Size: 10000000.0M

Management

Officers, Directors and Director Nominees.” Certain of our officers and directors are now, and all of them may in the future become, affiliated with entities engaged in business activities similar to those intended to be conducted by us and, accordingly, may have conflicts of interest in allocating their time and determining to which entity a particular business opportunity should be presented. Following the completion of this offering and until we consummate our initial business combination, we intend to engage in the business of identifying and combining with one or more businesses. Our officers and directors may become an officer or director of any another special purpose acquisition company with a class of securities intended to be registered under the Exchange Act, prior to the completion of our initial business combination. Our officers and directors also may become aware of business opportunities that may be appropriate for presentation to us and the other entities to which they owe certain fiduciary or contractual duties. Accordingly, they may have conflicts of interest in determining to which entity a particular business opportunity should be presented. These conflicts may not be resolved in our favor and a potential target business may be presented to another entity prior to its presentation to us. To address the matters set out above our amended and restated memorandum and articles of association will provide that, to the maximum extent permitted by law, we renounce any interest or expectancy in, or in being offered an opportunity to participate in any business combination opportunity: (i) that may be a corporate opportunity for both us and our sponsor or its affiliates and any companies in which our sponsor or its affiliates have invested about which any of our officers or directors acquires knowledge unless such opportunity is one we are legally and contractually permitted to undertake and would otherwise be reasonable for us to pursue; or (ii) the presentation of which would breach an existing legal obligation of a director or officer to another entity, and we will waive any claim or cause of action we may have in respect thereof. In addition our amended and restated memorandum and articles of association will contain provisions to exculpate and indemnify, to the maximum extent permitted by law, such persons in respect of any liability, obligation or duty to us that may arise as a consequence of such persons becoming aware of any business opportunity or failing to present such business opportunity. For a complete discussion of our officers’ and directors’ business Conflict of Interests and the potential conflicts of interest that you should be aware of, please see the sections of this prospectus entitled “Management — Officers, Directors and Director Nominees,” “Management — Conflicts of Interest” and “Certain Relationships and Related Party Transactions.” Our officers, directors, security holders and their respective affiliates may have competitive pecuniary interests that conflict with our interests. We have not adopted a policy that expressly prohibits our directors, officers, security holders or affiliates from having a direct or indirect pecuniary or financial interest in any investment to be acquired or disposed of by us or in any transaction to which we are a party or have an interest. In fact, we may enter into an initial business combination with a target business that is affiliated with our sponsor, our directors or officers. We do not have a policy that expressly prohibits any such persons from engaging for their own account in business activities of the types conducted by us. Accordingly, such persons or entities may have a conflict between their interests and ours. 45 The personal and financial interests of our directors and officers may influence their motivation in timely identifying and selecting a target business and completing a business combination. Consequently, our directors’ and officers’ discretion in identifying and selecting a suitable target business may result in a conflict of interest when determining whether the terms, conditions and timing of a particular business combination are appropriate and in our best interests. If this were the case and the directors fail to act in accordance with their fiduciary duties to us as a matter of Cayman Islands law, we may have a claim against such individuals. See the section titled “Description of Securities – Certain Differences in Corporate Law – Shareholders’ Suits” for further information on the ability to bring such claims. However, we might not ultimately be successful in any claim we may make against them for such reason. We may engage in an initial business combination with one or more target businesses that have relationships with entities that may be affiliated with our sponsor, officers, directors or existing holders that may raise potential conflicts of interest. In light of the involvement of our sponsor, officers and directors with other entities, we may decide to acquire one or more businesses affiliated with our sponsor, officers or directors. Our directors also serve as officers and board members for other entities, including, without limitation, those described under the section of this prospectus entitled “Management - Conflicts of Interest.” Such entities may compete with us for business combination opportunities. Our sponsor, officers and directors are not currently aware of any specific opportunities for us to complete our initial business combination with any entities with which they are affiliated, and there have been no substantive discussions concerning an initial business combination with any such entity or entities. Although we will not be specifically focusing on, or targeting, any transaction with any affiliated entities, we would pursue such a transaction if we determined that such affiliated entity met our criteria for an initial business combination as set forth in the section of this prospectus entitled “Proposed Business - Selection of a Target Business and Structuring of our Initial Business Combination” and such transaction was approved by a majority of our disinterested directors. Despite our agreement to obtain an opinion from an independent investment banking firm that is a member of FINRA or another independent entity that commonly renders valuation opinions, regarding the fairness to the Company and our shareholders from a financial point of view of an initial business combination with one or more domestic or international businesses affiliated with our officers, directors or existing holders, potential conflicts of interest still may exist and, as a result, the terms of the initial business combination may not be as advantageous to our public shareholders as they would be absent any conflicts of interest. These risks may become more acute as the 24-month deadline for the completion of our initial business combination. Since our sponsor, officers and directors will lose their entire investment in us if our initial business combination is not completed (except with respect to any public shares they may hold), a conflict of interest may arise in determining whether a particular business combination target is appropriate for our initial business combination. In November 2020, our sponsor purchased an aggregate of 2,875,000 founder shares for an aggregate purchase price of $25,000, or approximately $0.0087 per share, 375,000 of which are subject to forfeiture if the underwriters’ overallotment option is not exercised. In January 2021, our sponsor transferred 25,000 founder shares to each of our independent director nominees, at the original per share purchase price. The 100,000 founder shares held by our independent director nominees shall not be subject to forfeiture in the event the underwriters’ overallotment option is not exercised. The number of founder shares issued was determined based on the expectation that such founder shares would represent 20% of the outstanding shares after this offering. The founder shares will be worthless if we do not complete an initial business combination. In addition, our sponsor has committed to purchase an aggregate of 4,075,000 (or 4,375,000 if the underwriters’ overallotment option is exercised in full) private placement warrants, each exercisable for one Class A ordinary share at $11.50 per share, for a purchase price of $4,075,000 (or $4,375,000 if the underwriters’ overallotment option is exercised in full), or $1.00 per warrant, that will also be worthless if we do not complete an initial business combination. Holders of founder shares have agreed (A) to vote any shares owned by them in favor of any proposed initial business combination and (B) not to redeem any founder shares in connection with a shareholder vote to approve a proposed initial business combination or in connection with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association. In addition, we may obtain loans from our sponsor, affiliates of our sponsor or an officer or director. The personal and financial interests of our officers and directors may influence their motivation in identifying and selecting a target business combination, completing an initial business combination and influencing the operation of the business following the initial business combination. 46 We may issue notes or other debt securities, or otherwise incur substantial debt, to complete an initial business combination, which may adversely affect our leverage and financial condition and thus negatively impact the value of our shareholders’ investment in us. Although we have no commitments as of the date of this prospectus to issue any notes or other debt securities, or to otherwise incur outstanding debt following this offering, we may choose to incur substantial debt to complete our initial business combination. We have agreed that we will not incur any indebtedness unless we have obtained from the lender a waiver of any right, title, interest or claim of any kind in or to the monies held in the trust account. As such, no issuance of debt will affect the per-share amount available for redemption from the trust account. Nevertheless, the incurrence of debt could have a variety of negative effects, including: ·default and foreclosure on our assets if our operating revenues after an initial business combination are insufficient to repay our debt obligations; ·acceleration of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant; ·our immediate payment of all principal and accrued interest, if any, if the debt security is payable on demand; ·our inability to obtain necessary additional financing if the debt security contains covenants restricting our ability to obtain such financing while the debt security is outstanding; ·our inability to pay dividends on our ordinary shares; ·using a substantial portion of our cash flow to pay principal and interest on our debt, which will reduce the funds available for dividends on our ordinary shares if declared, our ability to pay expenses, make capital expenditures and acquisitions, and fund other general corporate purposes; ·limitations on our flexibility in planning for and reacting to changes in our business and in the industry in which we operate; ·increased vulnerability to adverse changes in general economic, industry and competitive conditions and adverse changes in government regulation; ·limitations on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, and execution of our strategy; and ·other disadvantages compared to our competitors who have less debt. We may be able to complete only one business combination with the proceeds of this offering and the sale of the private placement warrants, which will cause us to be solely dependent on a single business, which may have a limited number of products or services and limited operating activities. This lack of diversification may negatively impact our operating results and profitability. Of the net proceeds from this offering and the sale of the private placement warrants, $100,000,000 (or $115,000,000 if the underwriters’ overallotment option is exercised in full) will be available to complete our initial business combination and pay related fees and expenses (which includes $3,500,000, or $4,025,000 if the overallotment option is exercised in full, for the payment of deferred underwriting commissions being held in the trust account). We may effectuate our initial business combination with a single target business or multiple target businesses simultaneously or within a short period of time. However, we may not be able to effectuate our initial business combination with more than one target business because of various factors, including the existence of complex accounting issues and the requirement that we prepare and file pro forma financial statements with the SEC that present operating results and the financial condition of several target businesses as if they had been operated on a combined basis. By completing our initial business combination with only a single entity, our lack of diversification may subject us to numerous economic, competitive and regulatory developments. Further, we would not be able to diversify our operations or benefit from the possible spreading of risks or offsetting of losses, unlike other entities which may have the resources to complete several business combinations in different industries or different areas of a single industry. Accordingly, the prospects for our success may be: 47 ·solely dependent upon the performance of a single business, property or asset; or ·dependent upon the development or market acceptance of a single or limited number of products, processes or services. This lack of diversification may subject us to numerous economic, competitive and regulatory risks, any or all of which may have a substantial adverse impact upon the particular industry in which we may operate subsequent to our initial business combination. We may attempt to simultaneously complete business combinations with multiple prospective targets, which may hinder our ability to complete our initial business combination and give rise to increased costs and risks that could negatively impact our operations and profitability. If we determine to simultaneously acquire several businesses that are owned by different sellers, we will need for each of such sellers to agree that our purchase of its business is contingent on the simultaneous closings of the other business combinations, which may make it more difficult for us, and delay our ability, to complete our initial business combination. We do not, however, intend to purchase multiple businesses in unrelated industries in conjunction with our initial business combination. With multiple business combinations, we could also face additional risks, including additional burdens and costs with respect to possible multiple negotiations and due diligence investigations (if there are multiple sellers) and the additional risks associated with the subsequent assimilation of the operations and services or products of the acquired companies in a single operating business. If we are unable to adequately address these risks, it could negatively impact our profitability and results of operations. We may attempt to complete our initial business combination with a private company about which little information is available, which may result in an initial business combination with a company that is not as profitable as we suspected, if at all. In pursuing our initial business combination strategy, we may seek to effectuate our initial business combination with a privately-held company. Very little public information generally exists about private companies, and we could be required to make our decision on whether to pursue a potential initial business combination on the basis of limited information, which may result in an initial business combination with a company that is not as profitable as we suspected, if at all. Our management may not be able to maintain control of a target business after our initial business combination. We may structure an initial business combination so that the post-business combination company in which our public shareholders own shares will own less than 100% of the equity interests or assets of a target business, but we will only complete such business combination if the post-business combination company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for us not to be required to register as an investment company under the Investment Company Act. We will not consider any transaction that does not meet such criteria. Even if the post-business combination company owns 50% or more of the voting securities of the target, our shareholders prior to the initial business combination may collectively own a minority interest in the post business combination company, depending on valuations ascribed to the target and us in the initial business combination. For example, we could pursue a transaction in which we issue a substantial number of new Class A ordinary shares in exchange for all of the outstanding capital stock of a target. In this case, we would acquire a 100% interest in the target. However, as a result of the issuance of a substantial number of new ordinary shares, our shareholders immediately prior to such transaction could own less than a majority of our outstanding ordinary shares subsequent to such transaction. In addition, other minority shareholders may subsequently combine their holdings resulting in a single person or group obtaining a larger share of our shares than we initially acquired. Accordingly, this may make it more likely that our management will not be able to maintain our control of the target business. We cannot provide assurance that, upon loss of control of a target business, new management will possess the skills, qualifications or abilities necessary to profitably operate such business. 48 We do not have a specified maximum redemption threshold. The absence of such a redemption threshold may make it possible for us to complete an initial business combination with which a substantial majority of our shareholders do not agree. Our amended and restated memorandum and articles of association will not provide a specified maximum redemption threshold, except that we will only redeem our public shares so long as (after such redemption) our net tangible assets will be at least $5,000

Holder Stats

1 0
% of Shares Held by All Insider 0.00%
% of Shares Held by Institutions 53.43%
% of Float Held by Institutions 53.43%
Number of Institutions Holding Shares 38

Mutual Fund Holders

Holder Shares Date Reported Value % Out
Tidal ETF Tr-Robinson Alternative Yield Pre-Merger SPAC ETF 6370 2021-09-29 61725 0.05

Institutional Holders

Reporting Date Hedge Fund Shares Held Market Value % of Portfolio Quarterly Change in Shares Ownership in Company
2021-11-15 Hudson Bay Capital Management LP 617,001 $5,980,000 0.1% -0.8% 3.577%
2021-11-15 Dark Forest Capital Management LP 44,713 $430,000 0.2% 0 0.259%
2021-11-10 Goldman Sachs Group Inc. 55,995 $540,000 0.0% +2.3% 0.325%
2021-11-09 Robinson Capital Management LLC 16,533 $160,000 0.1% 0 0.096%
2021-07-31 Ampfield Management L.P. 44,543 $430,000 0.4% -25.9% 0.258%

SEC Filings

Form Type Form Description Filing Date Document Link
10-Q FORM 10-Q 2021-11-12 https://www.sec.gov/Archives/edgar/data/1835205/000141057821000156/tmb-20210930x10q.htm
SC 13G SCHEDULE 13G 2021-09-27 https://www.sec.gov/Archives/edgar/data/1835205/000089914021000659/i092721a.htm
10-Q FORM 10-Q 2021-08-16 https://www.sec.gov/Archives/edgar/data/1835205/000110465921106493/tmb-20210630x10q.htm
10-Q/A 10-Q/A 2021-08-16 https://www.sec.gov/Archives/edgar/data/1835205/000110465921106486/tmb-20210331x10qa.htm
8-K/A FORM 8-K/A 2021-08-16 https://www.sec.gov/Archives/edgar/data/1835205/000110465921106469/tm2124781d1_8ka.htm
8-K FORM 8-K 2021-08-13 https://www.sec.gov/Archives/edgar/data/1835205/000110465921104987/tm2124980d1_8k.htm
8-K FORM 8-K 2021-08-04 https://www.sec.gov/Archives/edgar/data/1835205/000110465921099943/tm2123990d1_8k.htm
10-Q FORM 10-Q 2021-07-16 https://www.sec.gov/Archives/edgar/data/1835205/000110465921093029/tmb-20210331x10q.htm
8-K FORM 8-K 2021-05-28 https://www.sec.gov/Archives/edgar/data/1835205/000110465921074340/tm2117679d1_8k.htm
NT 10-Q NT 10-Q 2021-05-18 https://www.sec.gov/Archives/edgar/data/1835205/000110465921068566/tm2114948-2_nt10q.htm
SC 13G SC 13G 2021-03-12 https://www.sec.gov/Archives/edgar/data/1835205/000110465921035538/tm219589d1_sc13g.htm
8-K FORM 8-K 2021-03-08 https://www.sec.gov/Archives/edgar/data/1835205/000110465921033374/tm218951d1_8k.htm
8-K FORM 8-K 2021-03-03 https://www.sec.gov/Archives/edgar/data/1835205/000110465921031281/tm218489d1_8k.htm
4 OWNERSHIP DOCUMENT 2021-03-02 https://www.sec.gov/Archives/edgar/data/1835205/000110465921030721/xslF345X03/tm217951d1_4seq1.xml
424B4 424B4 2021-03-01 https://www.sec.gov/Archives/edgar/data/1835205/000110465921029859/tm215210d7_424b4.htm
EFFECT 2021-02-25 https://www.sec.gov/Archives/edgar/data/1835205/999999999521000745/xslEFFECTX01/primary_doc.xml
3 OWNERSHIP DOCUMENT 2021-02-25 https://www.sec.gov/Archives/edgar/data/1835205/000110465921028476/xslF345X02/tm217951d9_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-02-25 https://www.sec.gov/Archives/edgar/data/1835205/000110465921028475/xslF345X02/tm217951d8_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-02-25 https://www.sec.gov/Archives/edgar/data/1835205/000110465921028474/xslF345X02/tm217951-7_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-02-25 https://www.sec.gov/Archives/edgar/data/1835205/000110465921028473/xslF345X02/tm217951-6_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-02-25 https://www.sec.gov/Archives/edgar/data/1835205/000110465921028472/xslF345X02/tm217951d5_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-02-25 https://www.sec.gov/Archives/edgar/data/1835205/000110465921028471/xslF345X02/tm217951d4_3.xml
3 OWNERSHIP DOCUMENT 2021-02-25 https://www.sec.gov/Archives/edgar/data/1835205/000110465921028470/xslF345X02/tm217951d3_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-02-25 https://www.sec.gov/Archives/edgar/data/1835205/000110465921028468/xslF345X02/tm217951d2_3seq1.xml
S-1MEF S-1MEF 2021-02-25 https://www.sec.gov/Archives/edgar/data/1835205/000110465921028442/tm215210d6_s1mef.htm
CERT NYSE CERTIFICATION 2021-02-25 https://www.sec.gov/Archives/edgar/data/1835205/000087666121000257/IBER022521.pdf
8-A12B FORM 8-A12B 2021-02-25 https://www.sec.gov/Archives/edgar/data/1835205/000110465921028004/tm217683d3_8a12b.htm
CORRESP 2021-02-24 https://www.sec.gov/Archives/edgar/data/1835205/000110465921027241/filename1.htm
CORRESP 2021-02-24 https://www.sec.gov/Archives/edgar/data/1835205/000110465921027240/filename1.htm
CORRESP 2021-02-22 https://www.sec.gov/Archives/edgar/data/1835205/000110465921026148/filename1.htm
S-1/A FORM S-1/A 2021-02-22 https://www.sec.gov/Archives/edgar/data/1835205/000110465921026147/tm215210d3_s-1a.htm
S-1 FORM S-1 2021-02-09 https://www.sec.gov/Archives/edgar/data/1835205/000110465921015548/tm215210d1_s-1.htm
CORRESP 2021-02-08 https://www.sec.gov/Archives/edgar/data/1835205/000110465921015551/filename1.htm
UPLOAD 2020-12-31 https://www.sec.gov/Archives/edgar/data/1835205/000000000020012643/filename1.pdf
DRSLTR 2020-12-07 https://www.sec.gov/Archives/edgar/data/1835205/000110465920132906/filename1.htm
DRS 2020-12-07 https://www.sec.gov/Archives/edgar/data/1835205/000110465920132899/filename1.htm