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.
At the SPAC of Dawn After a tepid month for SPAC activity in April, prominent teams are already scheduling things to make for some fireworks in early May. AltC (NYSE:ALCC) has already been turning heads as being the rare SPAC to trade significantly above trust value before close, and it has now booked the completion...
At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...