Churchill Capital VII Sponsor to Continue Pouring $1M/Month into Trust for Further Extension

Churchill Capital VII said i(s sponsor will continued making $1 million monthly deposits into trust if shareholders approve another extension. The SPAC wants an additional six months up to Aug. 17 to complete its proposed merger with CorpAcq Holdings Limited. The deal has a pro forma enterprise value of approximately $1.58 billion.

A vote on the extension plan is slated for Feb. 8.

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.” Read more.

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Selina and BOA Acquisition Complete Merger

In addition to potential cash proceeds from BOA's cash in trust (redemptions, if any, have not been disclosed), the business combination is expected to provide Selina with $54 million of capital via its private placement financing, and $118 million from subscriptions to convertible notes.