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Illumination Acquisition Corp I (NASDAQ:ILLUU, NASDAQ:ILLU, NASDAQ:ILLUW) announced Monday that its board of directors has appointed John DeMarais as chief operating officer, effective April 13. The company’s stock currently trades at $9.92 with a market capitalization of $271.77 million, hovering near its 52-week high of $9.99. The company stated that it will enter into a standard form of indemnification agreement with Mr. DeMarais.
According to the press release statement, there are no arrangements or understandings in which Mr. DeMarais has a direct or indirect material interest in any transaction requiring disclosure under Item 404(a) of Regulation S-K.
Mr. DeMarais joined Lucid Capital Markets, LLC in April 2025 and serves as a director in its investment banking practice, where he is responsible for deal sourcing and execution across capital markets and M&A advisory assignments. His experience includes supporting a range of transactions for both public and private companies in multiple growth sectors. He has also supported the sponsor of six special purpose acquisition company (SPAC) business combinations and has participated in over 20 SPAC transactions, including capital raising, advisory, structuring, and execution.
Prior to his role at Lucid, Mr. DeMarais worked at Craig-Hallum Capital Group from February 2021 to April 2025, where he participated in sourcing and executing more than 100 lower middle market transactions. According to InvestingPro analysis, ILLUU stock generally trades with low price volatility, characteristic of many SPACs, with a YTD return of 0.5%. Investors can access additional ProTips and comprehensive financial metrics on the platform. Earlier in his career, he was part of the Financial Services Assurance practice at Ernst & Young from August 2017 to February 2021. Mr. DeMarais holds a B.A. from Gustavus Adolphus College.
Illumination Acquisition Corp I is incorporated in the Cayman Islands and its securities are listed on The Nasdaq Stock Market LLC. The information in this article is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, Illumination Acquisition Corp I successfully completed its initial public offering, raising $230 million. The company offered 23 million units at $10.00 per unit. This IPO included the full exercise of the underwriter’s 3 million-unit over-allotment option, contributing to the total proceeds. The units of Illumination Acquisition Corp I began trading on the Nasdaq Global Market under the ticker symbol ILLUU. These developments mark a significant milestone for the company as it enters the public market. Investors may find this information pertinent as the company progresses post-IPO. The completion of the IPO indicates strong interest and support from investors.
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