Idea Acquisition, a blank check company targeting businesses leveraging LLMs and other AI tools, raised $350 million by offering 35 million units at $10. Each unit consists of one share of common stock and one-third of one warrant, exercisable at $11.50.
Idea Acquisition is led by CEO Trevor Harries-Jones, the COO of OTOY, a cloud graphics company servicing the media and entertainment industries, and CFO Nathan Clark, the Head of Finance at Ondello, a telehealth company. COO Ryan Shea is also the Head of Product at Render Network Foundation, and previously was Head of Special Projects at Solana Labs. The SPAC's board of directors includes Eugene “Rod” Roddenberry Jr., Jules Urbach, and Vinny Lingham.
The SPAC plans to target companies operating in the software vertical that leverages large language models or other AI tools, particularly companies that sit at the intersection of AI infrastructure and applied solutions, including AI software platforms, hosting infrastructure, applied consumer AI apps, model creators, and other foundational elements of AI transformation companies.
The Los Angeles, CA-based company was founded in 2025 and plans to list on the Nasdaq under the symbol IACOU. Cantor Fitzgerald acted as sole bookrunner on the deal.
