WASHINGTON (dpa-AFX) - Illumination Acquisition Corp I Units (ILLUU), on Thursday announced that it has priced its initial public offering of 20,000,000 units at $10 per unit.
The offering is expected to close on March 2.
The company granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments.
The company said that each unit consists of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at $11.50 per share.
Units are expected to begin trading on the Nasdaq Global Market on February 27, under the ticker symbol 'ILLUU.'
Upon separation, the Class A ordinary shares and redeemable warrants are expected to trade under the symbols 'ILLU' and 'ILLUW,' respectively.
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