Iron Horse Acquisitions Corp II (NASDAQ: IRHO) is a blank-check special purpose acquisition company (SPAC) formed to identify and complete a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more target businesses. The company generates no operating revenue prior to completing a business combination. Its 10-K filed February 13, 2026 (accession 000121390026015865) indicates the management team intends to focus its search on target companies in the media, entertainment, and artificial intelligence industries, using the team's international networks and proprietary deal flow. The structure is typical for SPACs: capital raised in a public offering is held in trust until a qualifying acquisition is completed or funds are returned to shareholders. Iron Horse Acquisitions Corp II is the successor vehicle to a prior SPAC effort referenced in the filing as Iron Horse I.

Revenue model

No operating revenue. Pre-combination, the company holds IPO proceeds in a trust account. Revenue and business model are contingent on completing a business combination with a target company.

Products and services

Blank-check acquisition vehicle targeting businesses in the media, entertainment, and artificial intelligence industries, as stated in the 10-K filed February 13, 2026.

Customers and end markets

Target acquisition candidates are private companies in the media, entertainment, and AI sectors. The filing states the team intends to source deals through industry contacts and proprietary networks, including opportunities outside typical competitive deal intermediaries.

Value-chain role

SPAC sponsor and acquisition vehicle. Acts as a conduit to bring private companies to public markets via a business combination transaction.

Geographic exposure

The filing references the team's international hubs without specifying countries or regions.

Source: SEC 10-K, filed 2026-02-13

Industry: Services-Business Services, NEC