Increases Deal Size to $600 Million.
Churchill Capital just filed an amended prospectus around 1:45PM today, increasing their deal size to $600 million. This most likely means pricing is off tonight since the $150 million increase is larger than a 20% upsize and therefore, it does not qualify for rule 462(b).
However, stranger things have happened and maybe Citigroup can get this through the SEC today and still price tonight.
Additionally, B. Riley FBR has been added as an underwriter. This is a nice cover for B. Riley and they’ll certainly be able to help out with rounding up a minimum of 350 round lot shareholders needed to comply with a NYSE listing.
Updated Summary of Terms below:
- Focus: Technology / Software
- Size: $600 million
- 100% held in trust ($10.00 per share)
- At-risk Capital: $16.5 million (16,500,000 warrants at $1.00)
- $10.00 unit comprised of one share of Class A Common Stock + 1/2 of one Warrant
- 24 months to complete an acquisition
- Limitation on redemption rights: 15%
- Warrant call (cash/cashless): >$18.00
- Underwriter fees: 2.0% + 3.5% deferred
- Citigroup: sole bookrunner; co-manager: B. Riley FBR


Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...
At the SPAC of Dawn Futures sit slightly red as investors return from holidays of barbecues and fireworks to renewed concerns about where US President Donald Trump’s tariff policy might hamper trade. The latest shift produced a further one-month delay in most of the tariffs Trump has threatened to impose as his administration continues to...
Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...