INTEGRATED RAIL & RESOURCES ACQUISITION CORP
IRRX · OTC
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 DHIP Natural Resources Investments, LLC, listed on OTC in November 2021.
- What it's doing now
- It agreed to buy Uinta Infrastructure Group Corp., an Infrastructure company. 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
- Uinta Infrastructure Group Corp.
- Industry
- Infrastructure (rail and resources)
- Deal value
- not stated in the filings we hold
- 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
- 12 November 2021
- size not on file · 101.0% of each $10 unit into trust
- Headquarters
- 400 W. MORSE BLVD., SUITE 220, WINTER PARK, FL, 32789
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Weinstein Boaz · Reeves Jason C. (Director)
- Listed securities
- IRRX 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.
At the 30 June 2025 event.
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
8 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.
redemption rate not stated in the filing
Show the earlier 5 milestones
- 12 November 2021IPOpassed
IPO size not on file
redemption rate not stated in the filing
redemption rate not stated in the filing
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- closedInfrastructureSEC primary
- closedInfrastructureSEC primary
Who has already taken their money back
3 filed eventsEach time shareholders were offered their cash back, some took it. Heavy cash-outs drain the account and shrink the number of shares left — whatever remains has to carry the deal.
Worst single event
—
no filing states a pre-event share count
Shares redeemed, all events
9.23M
across every filed redemption event
Every figure below is stated in the linked filing; nothing here is estimated.
- Jun 30, 2025Extensionno rate stated
Show the other 2 cash-out events
- Sep 24, 2024Extensionno rate stated
- Aug 8, 2023Extensionno rate stated
The score
deterministic, from filed fieldsIRRX 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
INTEGRATED RAIL & RESOURCES ACQUISITION CORP was a blank-check company (SEC SIC code 6770) whose common stock traded under the ticker IRRX on the OTC market. The company priced its IPO on November 12, 2021, per 424B prospectus 0001193125-21-328295, with unit terms including a one-half warrant, a trust value of $10.10 per unit, and a 12-month deadline. The ticker IRRX is printed on the cover page of 8-K 0001213900-25-100804, filed October 21, 2025. The company completed a business combination and no longer files, as established by 8-K 0001213900-25-123435 filed December 19, 2025, in which successor registrant Uinta Infrastructure Group Corp. (CIK 0002044112) carried item 2.01 (Completion of Acquisition) naming INTEGRATED RAIL & RESOURCES ACQUISITION CORP.
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 extension payment is one dollar in total - not per share - so holders are being asked to grant three and a half more months for no economic consideration whatsoever, the least accretive extension structure possible. Nearly four years past its IPO with a merger agreement signed thirteen months earlier and still unclosed, the risk is that the trust simply erodes through taxes and expenses. Redemption at trust remains the only certain outcome.
An extension payment of one dollar in total, plus authority for the board to keep extending monthly without returning to shareholders, effectively removes the deadline as a protection - holders lose the periodic redemption vote that gives a SPAC its discipline. Excluding sponsor Class A shares from the redemption calculation does at least preserve the full trust for public holders. Redemption at this meeting is the last guaranteed exit before that discretion begins.
A $5,000 monthly extension payment is nominal — it adds essentially nothing per share to trust, so unlike a real deposit-funded extension this one shifts time to the sponsor at no cost to them and no benefit to holders. Removing the $5,000,001 net tangible asset floor eliminates the backstop that would otherwise stop redemptions from hollowing the company out, clearing the way for the Uinta deal to close with almost no cash. Redemption remains the safe election.
This SPAC is two full years past its original November 15, 2022 deadline and is now extending one month at a time, which is the profile of a vehicle kept alive for the sponsor's option rather than a deal about to close. The $50,000 monthly deposit spread across the remaining public shares adds little per share. Delegating further extensions to the board removes the recurring shareholder vote, and with it the recurring redemption window that has been holders' main protection.
Retaining the $5,000,001 net tangible asset limitation rather than amending it away, as most 2023 extension proxies do, gives holders a real protection: heavy redemptions abort the extension and trigger liquidation at trust value instead of leaving a hollowed shell. Redemption proceeds are calculated as the trust balance including interest not yet released for taxes, less up to $100,000 of net interest for dissolution expenses, divided by the outstanding public shares. This is a second extension for a vehicle already nine months past its original November 2022 deadline.
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.
- What changed vs 2025-09-04deadline 2025-09-15 → 2025-12-31
combination deadline, trust account, going-concern doubt +11 moved · 3 with no prior record of ours
- Combination deadline
- 2025-09-152025-12-31
- Trust account
- $232.3M · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $5.4M · unchanged
SpacBrain reads this as 107 days later than the previous record.
The clause …“to amend the Charter to extend the Deadline Date from September 15, 2025 to December 31, 2025, by depositing (or causing to be deposited) into the Trust Account $1.00 on or prior to September 15, 2025. Since its first extension”…
The clause …“the Sponsor were added to the proceeds from the Initial Public Offering to be held in the Trust Account such that at the time of closing $ 232,300,000 was held in the Trust Account. If the Company does not complete a Business”…
The clause …“to liquidate and dissolve. In connection with the Company’s assessment of going concern considerations in accordance with FASB Accounting Standards Codification (“ASC”) 205-40, “Presentation of Financial Statements – Going Concern”,”…
The clause …“note for $1,500,000 outstanding. Additionally, at September 30, 2025 we owed an affiliate of the Sponsor $5,393,225 to fund costs related to the extension of the date by which the Company must consummate an initial Business”…
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.
Show the other 10 filings
What changed: Integrated Rail and Resources Acquisition Corp. called a special meeting for September 15, 2025 at 10:00 a.m. Eastern Time by live webcast to extend the date to complete an initial business combination from the September 15, 2025 Termination Date to December 31, 2025, by depositing $1.00 into the Trust Account for that extension on or prior to September 15, 2025. The IPO closed November 16, 2021 and the charter originally required completion by November 15, 2022, with extensions approved at meetings on February 8, 2023 and February 8, 2024. Why it matters: The extension payment is one dollar in total - not per share - so holders are being asked to grant three and a half more months for no economic consideration whatsoever, the least accretive extension structure possible. Nearly four years past its IPO with a merger agreement signed thirteen months earlier and still unclosed, the risk is that the trust simply erodes through taxes and expenses. Redemption at trust remains the only certain outcome.
What changed vs 2025-07-09deadline 2025-08-15 → 2025-12-31combination deadline, trust account1 moved · 1 with no prior record of ours
- Combination deadline
- 2025-08-152025-12-31
- Trust account
- $4.2M · unchanged
SpacBrain reads this as 138 days later than the previous record.
The clause …“Business Combination with an additional extension (the “ Extension Date ”) to December 31, 2025 (or, if the Office of the Delaware Division of Corporations shall not be open for business (including filing of corporate documents) on such”…
The clause …“up. In the event of a liquidation, our Sponsor will not receive any monies held in the Trust Account as a result of its ownership of (i) 4,234,840 shares of Class A Common Stock that were purchased by the Sponsor for an aggregate”…
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.
- What changed vs 2025-05-20deadline 2025-06-15 → 2025-09-15
combination deadline, trust account, going-concern doubt +21 moved · 4 with no prior record of ours
- Combination deadline
- 2025-06-152025-09-15
- Trust account
- $232.3M · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $5.4M · unchanged
- Redeemable shares
- 250Knot matched in this filing
SpacBrain reads this as 92 days later than the previous record.
The clause …“Agreement to August 31, 2025 and further extended the Termination Date to September 15, 2025 by giving Tar Sands written notice on August 31, 2025. The parties also agreed to amend the meanings of the terms Company Common Stock”…
The clause …“the Sponsor were added to the proceeds from the Initial Public Offering to be held in the Trust Account such that at the time of closing $ 232,300,000 was held in the Trust Account. If the Company does not complete a Business”…
The clause …“to liquidate and dissolve. In connection with the Company’s assessment of going concern considerations in accordance with FASB Accounting Standards Codification (“ASC”) 205-40, “Presentation of Financial Statements – Going Concern”,”…
The clause …“promissory note for $1,500,000 outstanding. Additionally, at June 30, 2025 we owed an affiliate of the Sponsor $5,393,225 to fund costs related to the extension of the date by which the Company must consummate an initial Business”…
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.
What changed: Integrated Rail and Resources Acquisition Corp. called a special meeting for July 15, 2025 at 10:00 a.m. Eastern Time by live webcast to extend the date to complete an initial business combination from the July 15, 2025 Termination Date to August 15, 2025 by depositing $1.00 into the Trust Account, and to allow further monthly extensions without another stockholder vote. The IPO closed November 16, 2021 and the charter originally required completion by November 15, 2022, with prior extensions approved at meetings on February 8, 2023 and February 8, 2024. Why it matters: An extension payment of one dollar in total, plus authority for the board to keep extending monthly without returning to shareholders, effectively removes the deadline as a protection - holders lose the periodic redemption vote that gives a SPAC its discipline. Excluding sponsor Class A shares from the redemption calculation does at least preserve the full trust for public holders. Redemption at this meeting is the last guaranteed exit before that discretion begins.
What changed vs 2025-04-29deadline 2025-07-15 → 2025-08-15combination deadline, trust account1 moved · 1 with no prior record of ours
- Combination deadline
- 2025-07-152025-08-15
- Trust account
- $4.2M · unchanged
SpacBrain reads this as 31 days later than the previous record.
The clause …“is approved, in the event that the Company has not consummated an Initial Business Combination by August 15, 2025, without further approval of the Company’s Public Stockholders, the Company may, by resolution of the Board, if”…
The clause …“up. In the event of a liquidation, our Sponsor will not receive any monies held in the Trust Account as a result of its ownership of (i) 4,234,840 shares of Class A Common Stock that were purchased by the Sponsor for an aggregate”…
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.
DHIP Natural Resources Investments, LLCnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1284 tracked SPACs (23%) are attached to a scored sponsor. This card fills in by itself as the research lands.
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
Unit: U = S + W/2 · 101.0% of the $10 unit
from 424B4 0001193125-21-328295
Trading & liquidity
Company profile
Directors & officers
- Weinstein Boaz10% owner
- Reeves Jason C.Director
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
15 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.
- DHIP Natural Resources Investments, LLCwith 2 other reporting persons on the same schedule14.7% · SC 13G/AAug 24, 2022 stale
- Walleye Capital LLC8.3% · SC 13GNov 13, 2024 stale
- BARCLAYS PLCwith 1 other reporting person on the same schedule6.4% · SC 13GJan 30, 2023 stale
- COWEN AND COMPANY, LLC5.5% · SC 13GNov 13, 2024 stale
- Saba Capital Management, L.P.with 1 other reporting person on the same schedule1.9% · SC 13G/AAug 17, 2023 stale
- First Trust Capital Management L.P.with 1 other reporting person on the same schedule0.0% · SC 13G/AMar 7, 2024 stale
- WOLVERINE ASSET MANAGEMENT LLCwith 4 other reporting persons on the same schedule0.0% · SC 13G/ANov 27, 2024 stale
- FIR TREE CAPITAL MANAGEMENT LP0.0% · SC 13G/ANov 14, 2024 stale
- Radcliffe Capital Management, L.P.with 5 other reporting persons on the same schedule0.0% · SC 13G/AJun 28, 2024 stale
- Yakira Capital Management, Inc.with 1 other reporting person on the same schedule0.0% · SC 13G/AApr 8, 2024 stale
- D. E. SHAW & CO, L.P.with 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 14, 2024 stale
- Polar Asset Management Partners Inc.0.0% · SC 13G/AFeb 13, 2024 stale
- HIGHBRIDGE CAPITAL MANAGEMENT LLC0.0% · SC 13G/AFeb 2, 2024 stale
- Castle Creek Arbitrage, LLCwith 3 other reporting persons on the same schedule0.0% · SC 13G/AJan 10, 2024 stale
- Space Summit Capital LLCnot stated · SC 13G/AFeb 3, 2022 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 note — IRRX (INTEGRATED RAIL & RESOURCES ACQUISITION CORP)
vault-note · /vault/tickers/IRRX
- Vault deal note — Uinta Infrastructure Group Corp. (IRRX)
vault-note · /vault/deals/uinta-infrastructure-group-corp
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 0001193125-21-328295 priced 2021-11-12; common ticker IRRX off 8-K 0001213900-25-100804 (2025-10-21); lifecycle EXITED. Ending PROVEN, not inferred: CLOSED per 8-K 0001213900-25-123435 (2025-12-19) — the successor registrant Uinta Infrastructure Group Corp. (CIK 0002044112) filed an 8-K carrying item 2.01 (Completion of Acquisition) naming "INTEGRATED RAIL & RESOURCES ACQUISITION CORP" — the SPAC merged into a new registrant and so filed no closing report of its own. 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 "DHIP Natural Resources Investments, LLC" sourced from prospectus definition (10-K) acc 0001193125-22-088132.
AI-extracted target (z-ai/glm-5.2, conf 0.95)
target recovered for a completed de-SPAC; no agreement-naming filing on file, so announcedAt is NULL rather than guessed
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 0.95)
target recovered for a completed de-SPAC; no agreement-naming filing on file, so announcedAt is NULL rather than guessed
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read