Churchill Capital VI priced its IPO of 48 million units at $10 per unit — a 20 percent upsize from the 40 million untis the SPAC initially planned to offer.
Units begin trading today on the NYSE under CCVI.U. Each consists of one share of Class A common stock and one-fifth of one warrant. Each whole warrant entitles the holder to purchase one share of Class A common stock at $11.50. Once the securities constituting the units begin separate trading, stock and warrants will list under CCVI and CCVI WS, respectively.
The SPAC is led by CEO and Chairman Michael Klein, founder and managing partner of strategic advisory firm M. Klein and Company. His Churchill Capital VII also priced today, at $1.2 billion.
Churchill VI plans to seek targets through its proprietary channels, focusing on companies with stable cash flow. Read more.