Columbus Circle Capital Corp I Announces Pricing of Upsized $220,000,000 Initial Public Offering

Rhea-AI Summary

Columbus Circle Capital Corp I (NASDAQ: CCCMU) has announced the pricing of its upsized IPO of 22,000,000 units at $10.00 per unit, totaling $220 million. Each unit comprises one Class A ordinary share and one-half redeemable warrant, with each whole warrant allowing purchase of one Class A share at $11.50.

Trading begins May 16, 2025, on Nasdaq Global Market under "CCCMU". The company granted underwriters a 45-day option to purchase up to 3,300,000 additional units. The Class A shares and warrants will later trade separately under "CCCM" and "CCCMW" respectively.

This blank check company, led by CEO Gary Quin, aims to pursue business combinations across any industry or location. Cohen & Company Capital Markets leads the offering as book-running manager, with Clear Street LLC as joint book-runner.

Positive

• Upsized IPO reaching $220 million in total proceeds
• Additional over-allotment option of 3.3 million units granted to underwriters
• Experienced management team with diverse board of directors
• Flexibility to pursue targets across any industry or location

Negative

• No specific target business identified yet
• Investment carries inherent SPAC risks with no operating history
• Only whole warrants will trade, limiting warrant flexibility

Insights

IPO & SPAC Expert

Columbus Circle Capital Corp I priced its upsized $220M SPAC IPO at $10 per unit with trading to begin on Nasdaq under CCCMU.

Columbus Circle Capital Corp I has successfully priced its upsized $220 million initial public offering, consisting of 22 million units at $10.00 per unit. Each unit includes one Class A ordinary share and one-half of a redeemable warrant, with each whole warrant allowing purchase of a Class A share at $11.50.

This blank check company, commonly known as a Special Purpose Acquisition Company (SPAC), is specifically formed to identify and merge with an existing private business, effectively bringing that company public without the traditional IPO process. The SPAC structure includes a typical $10 unit price and warrants exercisable at $11.50, matching standard SPAC terms.

The 45% upsized offering (from what was likely an initially planned $200 million raise) suggests strong investor demand. Underwriters have a 45-day option to purchase an additional 3.3 million units, potentially increasing proceeds by $33 million.

The management team is led by Gary Quin as CEO/Chairman and Joseph Pooler as CFO, supported by four independent directors including blockchain expert Dr. Adam Back. While the SPAC hasn't identified a specific acquisition target yet, they maintain flexibility to pursue opportunities across any industry or geography.

Trading on Nasdaq under symbol CCCMU will commence May 16, with the ordinary shares and warrants eventually trading separately as CCCM and CCCMW. The offering is expected to close around May 19, subject to standard closing conditions.

New York, NY, May 15, 2025 (GLOBE NEWSWIRE) -- Columbus Circle Capital Corp I (NASDAQ: CCCMU) (the “Company”) today announced the pricing of its upsized initial public offering of 22,000,000 units at a price of $10.00 per unit. The Company's units are expected to be listed on the Nasdaq Global Market under the symbol “CCCMU” and will begin trading on May 16, 2025. Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to certain adjustments. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on NASDAQ under the symbols “CCCM” and “CCCMW,” respectively. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,300,000 units at the initial public offering price to cover over-allotments, if any. The closing of the offering is anticipated to take place on or about May 19, 2025, subject to customary closing conditions.

The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an initial business combination target in any industry or geographical location. The Company’s management team is led by Gary Quin, its Chief Executive Officer and Chairman of the board of directors, and Joseph W. Pooler, Jr., its Chief Financial Officer. Garrett Curran, Alberto Alsina Gonzalez, Dr. Adam Back and Matthew Murphy are independent directors.

Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, acted as the lead book-running manager for the offering. Clear Street LLC acted as joint book-runner. Ellenoff Grossman & Schole LLP, and Ogier (Cayman) LLP, served as legal counsel to the Company, and Loeb & Loeb LLP served as legal counsel to the underwriters.

A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission on May 15, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is being made only by means of a prospectus, copies of which may be obtained from Cohen & Company Capital Markets, 3 Columbus Circle, 24^th Floor, New York, NY 10019, Attention: Prospectus Department, or by email at: capitalmarkets@cohencm.com. Copies of the registration statement can be accessed for free through the SEC's website at www.sec.gov.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering. No assurance can be given that such offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the offering filed with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.

Contact Information:

Columbus Circle Capital Corp I
Gary Quin, Chief Executive Officer
gquin@cohencm.com

FAQ

What is the IPO price and size for Columbus Circle Capital Corp I (CCCMU)?

Columbus Circle Capital Corp I priced its IPO at $10.00 per unit for 22,000,000 units, raising $220 million in total proceeds.

When will CCCMU stock begin trading on Nasdaq?

CCCMU units will begin trading on the Nasdaq Global Market on May 16, 2025.

What does each CCCMU unit consist of?

Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant allowing purchase of one Class A share at $11.50.

Who is leading Columbus Circle Capital Corp I (CCCMU)?

The company is led by Gary Quin as Chief Executive Officer and Chairman, with Joseph W. Pooler, Jr. as Chief Financial Officer.

What is the business focus of CCCMU SPAC?

CCCMU is a blank check company formed to effect a business combination and may pursue targets in any industry or geographical location.