Idea Acquisition Corp. completed the sale of 35 million units in an initial public offering, with each unit priced at $10.00, raising total proceeds of $350 million. Each public unit consists of one Class A ordinary share and one-third of a redeemable warrant, and whole warrants will be exercisable at $11.50 per share.
The newly issued units started trading on NASDAQ on February 11, 2026 under the ticker symbol "IACOU." The company said the constituent Class A ordinary shares and warrants will begin trading separately under the symbols "IACO" and "IACOW" once separate trading is established.
Concurrently with the public offering, Idea Acquisition completed a private placement of 6 million warrants at $1.50 per warrant, resulting in $9 million of gross proceeds. According to the company, Idea Tender LLC - the sponsor - acquired 3.67 million of those private placement warrants. The underwriters Cantor Fitzgerald & Co. and Odeon Capital Group LLC purchased 1.63 million and 700,000 private placement warrants, respectively.
The company reported that it placed $350 million from the IPO and private placement proceeds in trust, representing $10.00 per unit sold in the public offering.
Idea Acquisition operates as a blank check company formed to complete a business combination with one or more businesses. In its public filing, the company said it expects to target opportunities in the software sector that make use of large language models or artificial intelligence tools.
Cantor Fitzgerald & Co. served as the sole book-running manager for the offering, with Odeon Capital Group LLC acting as co-manager. The underwriting group received a 45-day option to purchase up to 5.25 million additional units to cover any over-allotments.
The Securities and Exchange Commission declared the registration statement effective on February 10, 2026. The information in this report is based on the company's press release.
Impacted sectors: Financial markets and capital formation, software and artificial intelligence-focused technology companies.