Lucid Capital Markets’ SPAC Illumination Acquisition I files for a $200 million IPO
IPO Overview
Illumination Acquisition I, a blank check company formed by Lucid Capital Markets executives, filed on Monday with the SEC to raise up to $200 million in an initial public offering.
The company plans to raise $200 million by offering 20 million units at $10.00. 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.
The New York, NY-based company was founded in 2025 and plans to list on the Nasdaq but has not yet selected a ticker （RC ticker: ILLUU.RC）。 BTIG is the sole bookrunner on the deal.
About the Company
We are a blank check company formed for the purpose of effecting our initial business combination with one or more target businesses. We are not limited to target businesses in any specific industry or geographic location. However, we expect to focus on identifying a growth company in a vertical where our management team has domain expertise, including but not limited to the nuclear, artificial intelligence/high performance computing, technology, industrial growth and financial services industries. We will look to acquire one or more businesses with an enterprise value of approximately $500 million to $1 billion, determined in the sole discretion of our management team according to reasonably accepted valuation standards and methodologies./ We believe that middle-market segment provides the greatest number of opportunities for investment and is where our management team believes they have the strongest network to identify opportunities. We intend to seek to acquire businesses operating in sectors experiencing meaningful secular growth, disruptive innovation or accelerating demand trends. These include, but are not limited to, high-performance computing, artificial intelligence, industrial automation, space and satellite infrastructure, and other emerging markets benefiting from long-term technological and economic tailwinds.