Illumination Acquisition I, a blank check company formed by Lucid Capital Markets executives, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of one warrant, exercisable at $11.50.
Illumination Acquisition I is led by Chairman David Rosenberg, the co-founder and CEO of Lucid Capital Markets. He is joined by CEO and Director John Lipman, the Head of Capital Markets at Lucid Capital Markets, and CFO Steve Kaplan, the Co-Head of the Financial Institutions Group at Lucid Capital Markets. The SPAC plans to target the nuclear, artificial intelligence/high performance computing, technology, industrial growth, and financial services sectors.
Illumination Acquisition I plans to list on the Nasdaq under the symbol ILLUU. BTIG acted as sole bookrunner on the deal.
