Churchill Capital Acquisition Corp. II (NYSE:CCX) announced in a press release that its shareholders approved its combination with digital learning solutions provider Skillsoft.
Approximately 97.7% of the votes cast at the meeting, representing approximately 71.5% of Churchill II’s outstanding shares, voted to approve the business combination.
The transaction is now expected to close on June 11 with with the combined entity’s shares commencing trading on the New York Stock Exchange under the symbol “SKIL” on June 14. Following the closing, the combined company is expecting to promptly complete its planned acquisition of IT leader Global Knowledge Training LLC to create a global leader in corporate digital learning.
The parties initially announced the $1.3 billion deal all the way back on October 13 of last year. The only older deal announcement that is still unclosed is Stable Road and Momentus, which is older by just a week. However, Momentus had complicated reasons to hold off having been founded by Russian exile Mikhail Kokorich, which led to national security concerns. Skillsoft delivers digital learning, training, and talent solutions for organizations through immersive, and engaging content.
ADVISORS
- Citigroup and Tyton Partners served as financial advisors to Churchill.
- Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Churchill.
- Citigroup acted as Sole Bookrunner for Churchill Capital II’s initial public offering, and B. Riley FBR acted as co-manager.
- Weil, Gotshal & Manges LLP served as legal counsel to Skillsoft.
- Houlihan Lokey Capital, Inc. served as financial advisor to Skillsoft.
- Lazard and Three Keys served as financial advisors to Global Knowledge.
- Sullivan & Cromwell LLP served as legal counsel to Global Knowledge
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...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...