Illumination Acquisition Corp I reports pricing of $200M IPO

Illumination Acquisition Corp I reports pricing of $200M IPO

Illumination Acquisition Corp I Prices $200 Million IPO to Pursue Growth Sector Mergers

Illumination Acquisition Corp I (ILLU), a newly formed blank check company led by Lucid Capital Markets executives, has priced its initial public offering to raise $200 million. The offering consists of 20 million units at $10.00 each, with each unit comprising one Class A ordinary share and one-third of a redeemable warrant exercisable at $11.50. The IPO, filed with the SEC on December 23, 2025, is set to list on the Nasdaq, though the ticker symbol remains unannounced.

The SPAC, incorporated in the Cayman Islands, aims to target businesses in the nuclear, artificial intelligence/high-performance computing, technology, industrial growth, and financial services sectors. Management, including Chairman David Rosenberg, CEO John Lipman, and CFO Steve Kaplan—all veterans of Lucid Capital Markets and former Ladenburg Thalmann executives— emphasized a focus on middle-market companies with enterprise values between $500 million and $1 billion. Lipman, with over 20 years of investment banking experience, and Rosenberg, who has managed more than 750 public offerings, bring extensive expertise in growth company financings and SPAC transactions.

The offering is managed by BTIG as the sole bookrunner. Proceeds will fund a business combination, with the SPAC expected to hold the capital in a trust until a target is identified. Investors should note that SPACs carry risks, including potential dissolution if a merger is not completed within 24 months.

With the IPO now priced, Illumination Acquisition Corp I joins a growing list of SPACs targeting high-growth industries amid evolving market conditions. Further updates on its acquisition strategy are anticipated as the company progresses toward a target identification.

Renaissance Capital, Lucid Capital Markets' SPAC Illumination Acquisition I files for a $200 million IPO
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