[Revised]
Churchill Capital Corp. III (CCXX.U), announced the pricing this morning of their upsized $1 billion SPAC IPO, and it has already begun trading today, Friday, February 14th, under the symbol NYSE: CCXX.U.
Notably, Churchill III set a new record, making today’s IPO the largest SPAC ever priced. Additionally, if Churchill III exercises a full over-allotment, their total gross proceeds could eventually reach $1.15 billion, setting a new high water mark for SPAC IPOs.
As for Churchill III’s sector focus, CCXX.U will have a broad mandate and will be aided by its “Operating Partners”, which are comprised of former senior operating executives of leading S&P 500 companies across multiple sectors and industries, and their “Strategic Partners”, comprised of selected leading investors and financing providers. Michael Klein, will be leading the team as CEO, President and Chairman of the Board.
Total SPAC deal count for 2020 year-to-date is now 8 with $2.44 billion in gross proceeds raised. The offering is anticipated to close on Wednesday, February 19, 2020.
Congratulations to all.
Citigroup acted as global coordinator and joint book-running manager for the offering. Goldman Sachs also acted as joint book-running manager for the offering and Maxim Group LLC acted as co-manager. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Winston & Strawn LLP were Issuer’s Counsel and Underwriter’s Counsel, respectively. Marcum LLP acted as auditor.
EGH Acquisition Corp. (NASDAQ:EGHAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EGHAU”, Friday, May 8, 2025. The new SPAC aims to combine with a target company in the energy transition or sustainability arena that help industries achieve efficiencies and decarbonization....
At the SPAC of Dawn Fed Chair Jerome Powell announced yesterday that the body intends to keep rates unchanged, earning him the moniker “FOOL” by US President Donald Trump. But, the announcement could bring some stability to market, which has seen macro factors pull it a variety of directions since the start of the year....
Tariffs, Trade Routes, and Tech: Freightos’ View from the Cargo Frontlines 2025 is shaping up to be a wild year for global trade, and few companies have a vantage point on the impacts of every-changing tariff policy quite like digital cargo-booking platform Freightos (NASDAQ:CRGO). This week, we catch up with Freightos CEO Zvi Schreiber. He shares...
NMP (NASDAQ:NMPU) has filed for a $100 million SPAC to conduct a broad search for a target, leveraging its team’s past consultancy work. The new SPAC’s units are set to contain one right to a 1/5 share. That is more generous to investors than the unit structure for Maxim Group’s other new SPAC filing this...
At the SPAC of Dawn Futures are green ahead of the Fed Chair Jerome Powell’s highly anticipated press conference at 2:30 pm ET today following two days of Federal Reserve meetings. Several other Fed members are expected to speak on Friday, but any news on rate changes is likely to come out of today’s speech,...