IPOs

Michael Klein's SPAC Churchill Capital Corp II prices upsized $600 million IPO at $10

Churchill Capital Corp II, the second blank check company founded by dealmaker and former Citi executive Michael Klein, raised $600 million by offering 60 million units at $10, making it the year's largest SPAC out of 28. Prior to pricing, the company filed an amended S-1 increasing its deal size to the amount offered; Churchill Capital II had originally filed to raise $400 million. Each 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 plans to list on the NYSE under the symbol CCX.U. Citi acted as a lead manager on the deal.

The article Michael Klein's SPAC Churchill Capital Corp II prices upsized $600 million IPO at $10 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.

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