Churchill Capital Corp X Completes Upsized $414 Million Initial Public Offering
Churchill Capital Corp X (CCCXU) has successfully completed its upsized initial public offering, raising $414 million through the sale of 41.4 million units at $10.00 per unit. The offering includes 5.4 million units from a fully exercised over-allotment option. Each unit comprises one Class A ordinary share and one-quarter of one redeemable warrant, with whole warrants exercisable at $11.50 per share.
Trading began on May 14, 2025, on the Nasdaq Global Market under "CCCXU". The company, founded by Michael Klein of M. Klein and Company, LLC, is a special purpose acquisition company (SPAC) formed to pursue business combinations across any sector. BTIG, LLC served as the sole book-running manager, and the entire $414 million has been placed in trust.
Churchill Capital Corp X (CCCXU) ha completato con successo la sua offerta pubblica iniziale ampliata, raccogliendo 414 milioni di dollari attraverso la vendita di 41,4 milioni di unità a 10,00 dollari per unità. L'offerta include 5,4 milioni di unità derivanti dall'opzione di sovrallocazione completamente esercitata. Ogni unità è composta da una azione ordinaria di Classe A e da un quarto di un warrant rimborsabile, con warrant interi esercitabili a 11,50 dollari per azione.
Le negoziazioni sono iniziate il 14 maggio 2025 sul Nasdaq Global Market con il simbolo "CCCXU". La società, fondata da Michael Klein di M. Klein and Company, LLC, è una società veicolo per acquisizioni speciali (SPAC) creata per perseguire fusioni e acquisizioni in qualsiasi settore. BTIG, LLC ha agito come unico responsabile del book-running, e l'intero ammontare di 414 milioni di dollari è stato depositato in un fondo fiduciario.
Churchill Capital Corp X (CCCXU) ha completado con éxito su oferta pública inicial ampliada, recaudando 414 millones de dólares mediante la venta de 41,4 millones de unidades a 10,00 dólares por unidad. La oferta incluye 5,4 millones de unidades provenientes de una opción de sobresuscripción totalmente ejercida. Cada unidad consta de una acción ordinaria Clase A y una cuarta parte de un warrant redimible, con warrants completos ejercitables a 11,50 dólares por acción.
La negociación comenzó el 14 de mayo de 2025 en el Nasdaq Global Market bajo el símbolo "CCCXU". La compañía, fundada por Michael Klein de M. Klein and Company, LLC, es una compañía de adquisición con propósito especial (SPAC) creada para buscar combinaciones comerciales en cualquier sector. BTIG, LLC actuó como único administrador del libro de órdenes y la totalidad de los 414 millones de dólares ha sido colocada en fideicomiso.
Churchill Capital Corp X (CCCXU)는 증액된 기업공개(IPO)를 성공적으로 완료하여, 4억 1,400만 달러를 1단위당 10.00달러에 4,140만 단위 판매를 통해 조달했습니다. 이 공모에는 완전히 행사된 초과배정옵션에서 나온 540만 단위가 포함되어 있습니다. 각 단위는 클래스 A 보통주 1주와 상환 가능한 워런트 1/4주로 구성되며, 전체 워런트는 주당 11.50달러에 행사할 수 있습니다.
거래는 2025년 5월 14일 나스닥 글로벌 마켓에서 "CCCXU"라는 티커로 시작되었습니다. 이 회사는 M. Klein and Company, LLC의 Michael Klein이 설립한 특수목적 인수회사(SPAC)로, 모든 산업 분야에서 사업 결합을 추구하기 위해 설립되었습니다. BTIG, LLC가 단독 북러닝 매니저로서 역할을 맡았으며, 총 4억 1,400만 달러 전액이 신탁에 예치되었습니다.
Churchill Capital Corp X (CCCXU) a réussi son introduction en bourse élargie, levant 414 millions de dollars grâce à la vente de 41,4 millions d’unités au prix de 10,00 dollars par unité. L’offre comprend 5,4 millions d’unités issues d’une option de surallocation entièrement exercée. Chaque unité comprend une action ordinaire de classe A et un quart de bon de souscription remboursable, les bons entiers étant exerçables à 11,50 dollars par action.
La cotation a débuté le 14 mai 2025 sur le Nasdaq Global Market sous le symbole « CCCXU ». La société, fondée par Michael Klein de M. Klein and Company, LLC, est une société d’acquisition à vocation spécifique (SPAC) créée pour réaliser des combinaisons d’affaires dans tous les secteurs. BTIG, LLC a agi en tant que seul gestionnaire de livre, et l’intégralité des 414 millions de dollars a été placée en fiducie.
Churchill Capital Corp X (CCCXU) hat seinen erweiterten Börsengang erfolgreich abgeschlossen und dabei 414 Millionen US-Dollar durch den Verkauf von 41,4 Millionen Einheiten zu je 10,00 US-Dollar pro Einheit eingenommen. Das Angebot umfasst 5,4 Millionen Einheiten aus einer vollständig ausgeübten Mehrzuteilungsoption. Jede Einheit besteht aus einer Stammaktie der Klasse A und einem Viertel eines einlösbaren Optionsscheins, wobei ganze Optionsscheine zu 11,50 US-Dollar pro Aktie ausgeübt werden können.
Der Handel begann am 14. Mai 2025 an der Nasdaq Global Market unter dem Kürzel "CCCXU". Das Unternehmen, gegründet von Michael Klein von M. Klein and Company, LLC, ist eine Special Purpose Acquisition Company (SPAC), die darauf abzielt, Unternehmenszusammenschlüsse in allen Branchen zu verfolgen. BTIG, LLC fungierte als alleiniger Bookrunner, und die gesamten 414 Millionen US-Dollar wurden treuhänderisch verwahrt.
- Successful upsized IPO raising $414 million, indicating strong investor interest
- Full exercise of over-allotment option by underwriters
- 100% of proceeds ($414 million) placed in trust, providing substantial capital for potential acquisition
- Experienced leadership with Michael Klein, a veteran SPAC sponsor
- No specific target business or industry identified yet
- Typical SPAC risks including potential dilution from warrant exercise
- Time pressure to complete a business combination within specified period
- Uncertainty in finding suitable acquisition target
Insights
Churchill Capital Corp X completed an upsized $414M SPAC IPO at $10/unit, with proceeds held in trust for future business acquisition.
Churchill Capital Corp X has successfully completed its initial public offering (IPO), raising
Each unit consists of one Class A ordinary share and one-quarter of a redeemable warrant, with each whole warrant allowing purchase of one additional share at
Notably,
Churchill Capital Corp X is founded by Michael Klein, an established SPAC sponsor with a track record of previous Churchill Capital SPACs. The company's mandate is deliberately broad - it may target businesses across any industry or sector. This flexibility maximizes its opportunity set while creating uncertainty about its eventual focus.
The SPAC market has experienced significant fluctuations since its 2020-2021 boom period, with investor sentiment becoming more selective. This substantial raise suggests Churchill has maintained investor confidence despite broader SPAC market challenges. The company now enters its search phase with a substantial war chest to pursue acquisition opportunities, though investors should note that SPACs typically have 18-24 months to complete a business combination or return funds to shareholders.
The Company's units began trading on May 14, 2025 on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "CCCXU." Each unit consists of one Class A ordinary share of the Company and one-quarter of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of
Of the proceeds received from the consummation of the initial public offering (as well as the exercise of the over-allotment option) and a simultaneous private placement of units,
The Company was founded by Michael Klein, who is also the founder and managing partner of M. Klein and Company, LLC. The Company was 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. It may pursue an initial business combination target in any business or industry.
BTIG, LLC acted as sole book-running manager for the offering.
The offering was made by means of a prospectus. Copies of the prospectus may be obtained from BTIG, LLC, Attention: 65 East 55th Street,
Registration statements relating to the securities were declared effective by the
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute "forward-looking statements," including with respect to the anticipated use of the net proceeds thereof. No assurance can be given that the net proceeds of the offering will be used as indicated. 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 Company's offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Company Contact:
Churchill Capital Corp X
Steve Lipin / Michael Landau
Gladstone Place Partners
212-230-5930
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SOURCE Churchill Capital Corp X
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