Illumination Acquisition Corp. I Closes $230M IPO and Concurrent Private Placement
ILLUU is trading near its 52-week low of $9.91 (0.3% above the low) on elevated volume (2.2× avg).
Summary
Illumination Acquisition Corp. I successfully closed its initial public offering and a concurrent private placement, raising a total of $236.25 million to fund its search for a business combination.
Key Events · Financing and Capital Events · ILLUU
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Initial Public Offering Closed
The company consummated its IPO on March 2, 2026, selling 23,000,000 units at $10.00 per unit, generating gross proceeds of $230,000,000. This included the full exercise of the underwriters' over-allotment option for 3,000,000 units.
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Concurrent Private Placement
Simultaneously, a private placement of 625,000 units was completed at $10.00 per unit, raising an additional $6,250,000. These units were purchased by the company's initial shareholders and underwriters.
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Total Capital Raised
The combined IPO and private placement generated total gross proceeds of $236,250,000.
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Trust Account Funded
$230,000,000 from the proceeds was placed into a trust account, to be invested and held until the completion of an initial business combination or liquidation.
Analysis · ILLUU · Real Estate & Construction
Illumination Acquisition Corp. I, a Special Purpose Acquisition Company (SPAC), announced the successful closing of its initial public offering (IPO) and a concurrent private placement. This event is critical as it provides the company with the necessary capital to pursue its primary objective: identifying and completing a business combination. The substantial funds raised, particularly the $230 million placed in a trust account, are foundational for the SPAC's operations and future acquisition strategy. The successful completion of the IPO, including the full exercise of the over-allotment option, demonstrates strong market demand for the offering.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 41.1% of the 372 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.38%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ILLUU was trading at $9.94 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $204M. The 52-week trading range was $9.91 to $9.96. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.