ION Acquisition Corp 1 Ltd.
IACA · NYSE
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC from ION Acquisition Corp (Gilbert Avrom), listed on NYSE in October 2020.
- What it's doing now
- It agreed in June 2021 to buy Taboola.com Ltd., a Recommendation and content discovery platform for the open web, powered by AI company. The deal valued that business at about $526M. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- Taboola.com Ltd.
- Industry
- Recommendation and content discovery platform for the open web, powered by AI
- Deal value
- $526M
- announced 8 June 2021
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 5 October 2020
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 89 MEDINAT HAYEHUDIM STREET, HERZLIYA, L3, 4676672
- registered in the Cayman Islands
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Levey Stephen · Shany Gilad (Director) · Gazit Rinat (Director)
- Listed securities
- IACA common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
What has happened, and what is coming
2 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 5 October 2020IPOpassed
IPO size not on file
- 8 June 2021Deal announcedpassed
Combination with Taboola.com Ltd.
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- Taboola.com Ltd.$526M · announced 8 June 2021closedpost-close TBLASEC primary
- Taboola.com Ltd.— · announced 8 June 2021closedpost-close TBLASEC primary
The score
deterministic, from filed fieldsIACA is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
ION Acquisition Corp 1 Ltd. was a blank-check company whose common stock traded on the New York Stock Exchange under the ticker IACA. The company priced its initial public offering on October 5, 2020, as reflected in its 424B prospectus. On June 28, 2021, ION and Taboola jointly issued a press release announcing that they had closed their previously announced merger, as disclosed in an 8-K filed June 29, 2021. The vehicle is now closed and no longer files with the SEC.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
The $10.00 reference price is manufactured: Taboola intends a 1-for-2.7007 forward stock split expressly to cause the value of its outstanding ordinary shares immediately before the effective time to equal $10.00 per share, and both the PIPE — 13,500,000 shares for $135,000,000 — and the Secondary Purchases of up to 15,120,000 shares for up to $151,200,000 are priced off that figure. The Secondary Purchases buy shares from existing Taboola shareholders rather than from the company, so those proceeds do not reach its balance sheet.
The balance sheet does not carry the deferred underwriting fee. The narrative states $5,750,000 of deferred underwriting discounts payable on completion, and warns the amount will not be reduced by redemptions, yet total recorded liabilities are $751,127 with no deferred line - so this balance sheet omits a claim that peers record. The document also gives the trust twice and differently: $258,794,822 on the balance sheet and in MD&A, $258,784,822 in Item 1. Figures are as of December 31, 2020.
One-fifth of a warrant per unit needs five units for one exercisable warrant, so this is thin warrant coverage sold at the same $11.50 strike as a whole-warrant deal. Two redemptions apply - the $18.00 closing-price call and a $10.00 call measured on the single trading day before notice - and both are adjustable through the anti-dilution machinery rather than by a fixed multiple. Amending the public warrants adversely takes 50% of them. An underwriter affiliate is also on the sponsor side of the private placement.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
What changed: ION Acquisition Corp. 1 Ltd. issued definitive merger materials for an extraordinary general meeting scheduled for June 28, 2021 in virtual format, on the agreement and plan of merger dated January 25, 2021 with Taboola.com Ltd. and Toronto Sub Ltd. Merger Sub merges into ION, ION survives and becomes a wholly owned subsidiary of Taboola, and ION's securityholders become Taboola securityholders. The prospectus covers up to 32,343,750 Taboola Ordinary Shares and 12,350,000 ordinary shares issuable on exercise of Taboola Warrants. Why it matters: The $10.00 reference price is manufactured: Taboola intends a 1-for-2.7007 forward stock split expressly to cause the value of its outstanding ordinary shares immediately before the effective time to equal $10.00 per share, and both the PIPE — 13,500,000 shares for $135,000,000 — and the Secondary Purchases of up to 15,120,000 shares for up to $151,200,000 are priced off that figure. The Secondary Purchases buy shares from existing Taboola shareholders rather than from the company, so those proceeds do not reach its balance sheet.
minimum cash condition, outside datenothing moved · 2 with no prior record of ours
- Minimum cash condition
- no earlier filing$450.0M
- Outside date
- no earlier filing2021-07-09
SpacBrain reads this as the min-cash condition binds at $450,000,000.
The clause …“and the proceeds from the PIPE Investment and the Secondary Purchases must equal or exceed $450,000,000 (the “ Minimum Cash Condition ”). Since the amount in the trust account is less than $450,000,000, the funds from the PIPE”…
SpacBrain reads this as the agreement may be terminated from 2021-07-09.
The clause …“the Taboola Ordinary Shares on Nasdaq in addition to NYSE and to extend the Outside Date (as defined herein) from June 25, 2021, to July 9, 2021. The amendment to the Merger Agreement is filed as Exhibit 2.2 hereto. 14 TABLE OF”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Deal completion: 2/3 resolved vehicles closed a deal (67%); 1 liquidated, 0 terminated. No measured post-close outcome yet, so completion credit is NOT gated — missing data is never a penalty.
Mixed record · medium confidence
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
from 424B4 0001213900-20-029995
Trading & liquidity
Company profile
Directors & officers
- Levey Stephen10% owner
- Shany GiladDirector
- Gazit RinatDirector
- Shemesh LiorDirector
- Kolber JonathanDirector
- Seligsohn GabiDirector
- Reich AnthonyChief Financial Officer
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
2 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- ION Holdings 1, LPwith 1 other reporting person on the same schedule17.9% · SC 13GFeb 16, 2021 stale
- ICP M2, L.P.with 2 other reporting persons on the same schedule3.3% · SC 13G/AFeb 16, 2021 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
38 full SEC filing texts archived — searchable, never lost.
- Vault deal note — Taboola.com Ltd. (IACA)
vault-note · /vault/deals/taboola-com-ltd
- Vault note — IACA (ION Acquisition Corp 1 Ltd.)
vault-note · /vault/tickers/IACA
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail8 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001213900-20-029995 priced 2020-10-05; common ticker IACA off 8-K 0001213900-21-033069 (2021-06-21); lifecycle EXITED. Ending PROVEN, not inferred: CLOSED per 8-K 0001213900-21-034586 (2021-06-29) — 06 249,703 1 Item 7.01 Regulation FD Disclosure. On June 28, 2021, ION and Taboola jointly issued a press release announcing that they have closed their previously announced merger. A copy of the press release is attached as Exhibit 99.1 hereto and incorporated by reference herein. The information in this Item 7.01 and Exhibit 99.1 attached hereto shall not be deemed “filed” for purpos. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "ION Holdings 1, LP" (SEC CIK 0001826141) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-20-029439.
AI-extracted target (z-ai/glm-5.2, conf 1)
target recovered for a completed de-SPAC
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read
AI-extracted target (z-ai/glm-5.2, conf 0.99)
target recovered for a completed de-SPAC
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read