Churchill Capital V closed its IPO of 50 million units including the issuance of 5 million units as a result of the underwriters’ exercise of their over-allotment option.
The units were sold at a price of $10 each, generating gross proceeds of $500 million.
Simultaneously with the closing of the IPO, the SPAC completed the private sale of 11 million warrants at a purchase price of $1 each, to Churchill Sponsor V, generating an additional $11 million.
The SPAC has said its focus is not limited to any specific sector or industry. Read more.
