Churchill Capital Corporation V announced the pricing of its upsized $450 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “CCV.U” tomorrow, Wednesday December 16.
The new company aims to combine with a business sourced through its management’s proprietary channels with potential to grow through further M&A. Churchill V is led by CEO, President and Chairman Michael Klein, alongside CFO Jay Taragin.
Total SPAC deal count for 2020 year-to-date is now 235 with $78.9 billion in gross proceeds raised. This offering is expected to close on Friday, December 19.
Citigroup Global Markets Inc. (“Citigroup”) is acting as joint bookrunner and representative of the underwriters and each of Goldman Sachs & Co. LLC (“Goldman Sachs”), J.P. Morgan Securities LLC (“J.P. Morgan”) and BofA Securities (“BofA”) is acting as joint bookrunner. B. Riley Securities, Inc. is acting as co-manager. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as Issuer’s Counsel with White & Case LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.
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