Churchill Capital Corp III (CCXX) announced this afternoon that its shareholders had approved its business combination with healthcare data analytics-provider MultiPlan.
About 93% of shareholders representing about 76% of Churchill III’s total outstanding shares voted in favor of the transaction at a special meeting held earlier today.
The two parties expect to close the $11 billion business combination tomorrow and the newly combined entity is expected to begin trading on the NYSE under the symbol “MPLN” Friday, October 9.
Churchill III announced October 6 that as of its redemption deadline it had over $1 billion remaining in its $1.1 billion trust. Much of this was secured in advance as holders of 28,979,500 shares had already agreed not to redeem and owners of 41% of Chruchill III’s total outstanding shares had agreed to vote in favor of the agreement.
The SPAC was required to maintain a minimum of $2.7 billion available as a condition to closing the deal, and it appears to have locked up more than enough in advance with $3.6 billion in capital available at closing.
June is set to be one of the quietest months in some time in terms of sponsors and de-SPAC’d companies coming free from their lock-ups, owing to the quieter periods for transactions closing that occurred six and 12 months ago. Up first will be company shareholders for East Asian media conglomerate TNL Mediagene (NASDAQ:TNMG) on...
Pioneer I (NASDAQ:PACHU) has filed for a $220 million SPAC to hunt for a healthcare target with a mix of industry veterans heading up its team. The new SPAC is the 12th new S-1 underwritten by Cantor Fitzgerald this year as left lead as it hopes to join the 10 SPACs that the underwriter has...
At the SPAC of Dawn This week comes to an end with a flurry of SPAC votes including three special meetings called for shareholders to approve business combinations. Aetherium (OTC:GMFI) was also scheduled to seek shareholder approval for its extension proposal, but has punted this vote for two weeks to June 13. Two of today’s...
At the SPAC of Dawn After multiple days of market rallies, traders are set to ingest a full plate of economic indicators today with jobless claims coming first, followed by a GDP growth revisions, home sales and a raft of Fed comments. GDP figures for the first quarter are broadly forecast to be revised downward...
Jena Acquisition Corporation II (NASDAQ:JENAU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the NYSE under the symbol “JENA.U”, Thursday, May 29, 2025. The new SPAC plans to combine with a target company in one of the areas of expertise of its founders, which include fintech,...