Churchill Capital Corp XIII Completes Upsized $414 Million Initial Public Offering
Rhea-AI Summary
Churchill Capital Corp XIII (Nasdaq: XIIIU) closed its upsized initial public offering of 41,400,000 units, including 5,400,000 units from the underwriter’s full over-allotment exercise, at $10.00 per unit, generating $414,000,000 in gross proceeds.
Each unit includes one Class A ordinary share and one-tenth of a redeemable warrant, with each whole warrant exercisable at $11.50 per share. According to the company, $414,000,000 (or $10.00 per public unit) was placed in a trust account. The SPAC, founded by Michael Klein, aims to complete a business combination in any sector.
Positive
- Upsized IPO proceeds of $414,000,000 placed in trust
- Underwriter’s over-allotment option fully exercised for 5,400,000 additional units
- 41,400,000 units sold at $10.00 each on Nasdaq Global Market
- Public units structured with fractional warrants exercisable at $11.50 per share
Negative
- None.
News Explained
Beyond the closed
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NEW YORK, NY, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Churchill Capital Corp XIII (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 underwriter of its over-allotment option in full. The offering was priced at
The Company’s units began trading on July 31, 2026 on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “XIIIU.” 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
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.
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 July 30, 2026. 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 XIII
info@churchillcapitalcorp.com
212-380-7500
