Item 2. Properties
ITEM
2. PROPERTIES
We
currently maintain our principal executive offices at OT 09-31, Central Park Towers Offices, Dubai International Financial Centre, Dubai,
United Arab Emirates. The cost for this space is included in the $20,000 monthly fee Iris Acquisition Holdings II LLC will charge us
for general and administrative services commencing on the date of the IPO pursuant to an Administrative Services Agreement between us
and Iris Acquisition Holdings II LLC for up to six months unless we have entered into working capital loans to permit the payment of
such fee until the consummation of an initial business combination. We believe, based on rents and fees for similar services in Dubai,
United Arab Emirates, that the fee charged by our sponsor is at least as favorable as we could have obtained from an unaffiliated person.
We consider our current office space, combined with the other office space otherwise available to our executive officers, adequate for
our current operations.
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