Appleby Advises Illumination Acquisition Corp I in Its USD230M Initial Public Offering
Appleby is pleased to announce that it acted as Cayman Islands legal counsel to Illumination Acquisition Corp I (Illumination Acquisition) in connection to the closing of its initial public offering of 23,000,000 units, including the full 3,000,000 units subject to the underwriter’s over-allotment option, at $10.00 per unit. The offering resulted in gross proceeds to the Company of $230,000,000.
Illumination Acquisition units are listed on the Nasdaq Global Market (Nasdaq) and commenced trading under the ticker symbol “ILLUU” on February 27, 2026. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment. Only whole warrants are exercisable and will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be listed on Nasdaq under the symbols “ILLU” and “ILLUW,” respectively.
Appleby advised on all Cayman Islands legal aspects of the transaction, further strengthening its proven track record and consistently demonstrating deep expertise in IPOs and capital markets regulation.
The Appleby Capital Markets team was led by Partner Alexandra Low, with Paralegal Sophia Cunningham, and other members of the corporate team.
Appleby continues to play a key role in major IPO and public-market matters worldwide.
