Churchill Capital VI (NYSE: CCVI) announced that its board has determined to redeem all outstanding shares because the SPAC will not close a deal by deadline.
A previously disclosed non-binding letter of intent with a potential merger target has been terminated.
The per-share redemption price will be approximately $10.49. Shares will cease trading Dec. 1 on the NYSE.
Churchill VI raised $480 million in a February 2021 IPO to pursue targets through its proprietary channels, focusing on companies with stable cash flow. Read more.
