Churchill Capital Corp XI Completes Upsized $414 Million Initial Public Offering

Rhea-AI Summary

Churchill Capital Corp XI (Nasdaq: CCXIU) completed an upsized initial public offering on Dec 18, 2025, selling 41,400,000 units at $10.00 per unit for gross proceeds of $414,000,000, including the full exercise of a 5,400,000-unit over-allotment option.

Each unit contains one Class A ordinary share and one-tenth of a redeemable warrant; each whole warrant carries an $11.50 exercise price. The units began trading Dec 17, 2025 on the Nasdaq Global Market under CCXIU, with Class A shares and warrants expected to trade separately as CCXI and CCXIW when split.

The offering proceeds, plus a concurrent private placement, placed $414,000,000 in a trust. Citigroup served as sole book-running manager. The company was formed to pursue a business combination; founder is Michael Klein.

Positive

• Gross proceeds of $414,000,000 placed in trust
• Offering fully upsized with 5,400,000-unit over-allotment exercised
• Nasdaq listing began Dec 17, 2025 under ticker CCXIU

Negative

• Issued warrants with $11.50 exercise price present potential dilution
• 41,400,000 units sold may dilute existing post-combination equity

NEW YORK, Dec. 18, 2025 /PRNewswire/ -- Churchill Capital Corp XI (the "Company") announced today the closing of its upsized initial public offering of 41,400,000 units, which includes 5,400,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full. The offering was priced at $10.00 per unit, resulting in gross proceeds of $414,000,000.

The Company's units began trading on December 17, 2025 on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "CCXIU." Each unit consists of one Class A ordinary share of the Company and one-tenth 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 $11.50 per share. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols "CCXI" and "CCXIW," respectively.

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, $414,000,000 (or $10.00 per unit sold in the public offering) was placed in trust.

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.

Citigroup 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 Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146), or by accessing the SEC's website at www.sec.gov.

Registration statements relating to the securities were declared effective by the U.S. Securities and Exchange Commission (the "SEC") on December 16, 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.

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 XI
info@churchillcapitalcorp.com
Steve Lipin / Michael Landau
Gladstone Place Partners
212-230-5930

View original content:https://www.prnewswire.com/news-releases/churchill-capital-corp-xi-completes-upsized-414-million-initial-public-offering-302646441.html

SOURCE Churchill Capital Corp XI

FAQ

What did Churchill Capital Corp XI (CCXIU) raise in its Dec 18, 2025 IPO?

The IPO raised $414,000,000 by selling 41,400,000 units at $10.00 per unit.

When did Churchill Capital Corp XI (CCXIU) begin trading on Nasdaq?

Units began trading on Dec 17, 2025 on the Nasdaq Global Market under CCXIU.

What does each Churchill Capital Corp XI unit include and what is the warrant price?

Each unit includes one Class A share and one-tenth of a warrant; each whole warrant has an exercise price of $11.50.

How much of the IPO proceeds were placed in trust for Churchill Capital Corp XI (CCXIU)?

$414,000,000 (or $10.00 per public unit sold) was placed in trust following the offering and related private placement.

Who managed the Churchill Capital Corp XI (CCXIU) offering?

Citigroup acted as sole book-running manager for the offering.