Blank check company Churchill Capital Corp II files for $400 million IPO

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Churchill Capital Corp II, a blank check company founded by former Citigroup co-CEO Michael Klein, files for its IPO on Monday.

The New York, NY-based company plans to raise $400 million by offering 40 million units at a price of $10. Churchill Capital Corp II would command a market value of $500 million. One unit consists of one share of common stock and one-third of one warrant to purchase a share of common stock at $11.50 per share.

Churchill Capital Corp II was founded in 2019 and it plans to list on the NYSE under the symbol CCC.RC. It has not selected a ticker yet. Citi is the sole bookrunner on the deal. No pricing terms were disclosed.

The article Blank check company Churchill Capital Corp II files for $400 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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