Iris Acquisition Corp II 8-K

What Happened Iris Acquisition Corp II announced on February 18, 2026 (8-K filed) that, beginning February 24, 2026, holders of the Company’s units may elect to separate their Units so the underlying Class A ordinary shares and warrants can trade separately on the NYSE. Each Unit contains one Class A ordinary share and one-half of a redeemable warrant; separated securities will trade under new ticker symbols.

Key Details

• Each Unit = 1 Class A ordinary share + 0.5 warrant; only whole warrants will be issued and trade.
• Exercise price for each whole Warrant = $11.50 per share (subject to adjustment).
• Trading symbols: Units (if not separated) remain "IRAB U"; separated Class A shares = "IRAB"; separated warrants = "IRAB WS".
• Holders must instruct their brokers to contact Odyssey Transfer & Trust Company (the transfer agent) to effect the separation.
• The company attached a press release announcing the separate trading as Exhibit 99.1 to the 8-K.

Why It Matters Separate trading gives investors flexibility to buy or sell the underlying Class A shares or warrants independently, which can affect trading liquidity and pricing dynamics for each security. Investors holding Units who want standalone shares or warrants will need to coordinate with their brokers and the transfer agent before or on the separation date to convert their Units. This is an operational event (not an earnings or management change) but is material for holders of IRAB Units and potential traders in the NYSE-listed securities.