Illumination Acquisition Corp. I warns of going concern doubt over acquisition costs and its liquidation deadline.
SEC EDGAR, 2026-10-14: 10-Q — "substantial doubt"
Illumination Acquisition Corp. I warns of going concern doubt over acquisition costs and its liquidation deadline.
Company: Illumination Acquisition Corp. I (ILLU) Filed: 2026-10-14, 10-Q Phrase: "substantial doubt" — "These conditions raise substantial doubt about the Company’s ability to continue as a going concern." What the filing says: The company's management determined that it lacks the liquidity needed to sustain operations for at least one year from the financial statement issuance date due to expected costs in pursuing its acquisition plans. Additionally, if the company fails to complete an initial business combination within its completion window, it will cease all operations and liquidate. As of August 31, 2026, the company had $819,260 in cash equivalents and working capital of $740,381, with $234,129,285 held in its Trust Account. Two ways it goes: A. The company completes an initial business combination within the completion window. B. The company fails to complete a business combination by the deadline and liquidates. Next date: March 2, 2028, the end of the Completion Window. Watch: The announcement of a merger agreement or a shareholder vote to extend the completion window.