Illumination Acquisition Corp I’s Quiet Period Set To End on April 8th (NASDAQ:ILLUU)

Illumination Acquisition Corp I’s (NASDAQ:ILLUU) quiet period will expire on Wednesday, April 8th. Illumination Acquisition Corp I had issued 20,000,000 shares in its public offering on February 27th. The total size of the offering was $200,000,000 based on an initial share price of $10.00. During Illumination Acquisition Corp I’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Illumination Acquisition Corp I to a “hold” rating in a report on Saturday, March 14th.

Illumination Acquisition Corp I Trading Down 0.2%

Shares of ILLUU stock opened at $9.90 on Wednesday. Illumination Acquisition Corp I has a fifty-two week low of $9.90 and a fifty-two week high of $9.99.

About Illumination Acquisition Corp I

Illumination Acquisition Corp I (NASDAQ: ILLUU) is a publicly listed special purpose acquisition company (SPAC) formed to effect a business combination with one or more operating businesses. As a blank‑check vehicle, its primary purpose is to raise capital in the public markets and use those proceeds, together with any additional financing, to acquire or merge with a private company that will thereby become publicly traded through the combination.

The company raises funds through an initial public offering and typically places IPO proceeds into a trust account pending completion of a qualifying business combination.