Churchill Capital VII in a regulatory filing said it was notified by the Nasdaq that it faces delisting from the exchange for not completing a merger within the 36-month window for SPACs. Churchill VII intends to appeal and ask for a hearing.
The SPAC has a deal in hand with CorpAcq Holdings Limited. The deal has a pro forma enterprise value of approximately $1.58 billion.
Based in Altrincham, England and founded in 2006, CorpAcq said it has cultivated a reputation as a “preferred buyer” for founder-led small and medium-sized enterprises based on its “founder-friendly, management empowered value proposition and focus on investing for long-term performance.”
Churchill VII shareholders last month approved an extension on the transaction up to Aug. 17. Read more.
