Elevation Acquisition Group, a blank check company targeting cash flow-positive businesses with defensible market positions, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
The company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock, and one right to receive one-sixth of a share at the time of the business combination.
Elevation Acquisition Group is led by CEO Anthony Sarkis, the Chief Strategy Officer at Parabole.ai, and CFO Joseph Yankovich, the CFO of Dominion Capital. Chairman Matthew Kearney, the CEO of COA Group, who previously led Mount Rainier Acquisition through its 2023 combination with HUB Cyber Security (Nasdaq: HUBC). The SPAC plans to target cash flow-positive businesses with defensible competitive positions, giving initial attention to companies positioned to benefit from AI adoption, heavy-asset businesses, and the space sector.
The Aventura, FL-based company was founded in 2026. It plans to list on the Nasdaq under the symbol ELEVU. Elevation Acquisition Group filed confidentially on May 6, 2026. Maxim Group LLC is the sole bookrunner on the deal.
