Welcome to our dedicated page for Churchill Cap XI SEC filings (Ticker: CCXIW), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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Churchill Capital Corp XI is a Cayman Islands-based special purpose acquisition company formed in June 2025 to complete a business combination within a defined timeframe. It has not yet selected a target and has generated no operating revenues.
The company completed an initial public offering on December 18, 2025 of 41,400,000 public units at $10.00 each, raising $414,000,000, and a concurrent private placement of 500,000 units for $5,000,000. A total of $414,000,000, including $411,000,000 of IPO proceeds and $3,000,000 of private placement proceeds, was placed in a trust account.
Churchill must complete its initial business combination by December 18, 2027, or by March 18, 2028 if a qualifying agreement is in place by December 18, 2027, or else liquidate and return trust funds to public shareholders. As of December 31, 2025, the redemption price was approximately $10.01 per public share and funds outside the trust were $736,204. As of March 26, 2026, there were 41,900,000 Class A and 13,800,000 Class B ordinary shares outstanding.
Churchill Capital Corp XI director Paul Lapping filed an initial Form 3, which records his status as a director and establishes his baseline beneficial ownership reporting position. The filing shows no reported transactions or derivative positions and serves as a compliance disclosure for his new insider role.
Churchill Capital Corp XI director Stephen Anthony Murphy filed an initial ownership report on Form 3. The data provided shows no reported transactions or holdings, with buy, sell, acquire, and dispose share counts all at zero and net activity neutral.
Churchill Capital Corp XI reported governance changes, appointing Paul Lapping and Stephen Murphy to its board of directors, effective immediately. Both will join the compensation and audit committees, with Lapping becoming chair of the audit committee, replacing William Sherman, who remains a committee member.
The company entered into director agreements with Sherman, Lapping and Murphy providing cash compensation of $75,000 per year starting April 1, 2026. Lapping and Murphy also signed the existing sponsor letter agreement, waiving certain redemption rights and agreeing to vote their shares in favor of an initial business combination, and each entered into a standard director indemnification agreement.
Empyrean Capital Partners, LP and Amos Meron report beneficial ownership of 3,500,000 Class A ordinary shares of Churchill Capital Corp XI, representing 8.35% of this share class. The percentage is based on 41,900,000 Class A ordinary shares outstanding as of December 18, 2025.
The shares are directly held by Empyrean Capital Overseas Master Fund, Ltd., for which Empyrean acts as investment manager and Meron is an indirect control person through the general partner. They state the position is held in the ordinary course of business and not for the purpose of changing or influencing control of the company.
Fort Baker Capital Management LP and related parties reported a 5.4% beneficial stake in Churchill Capital Corp XI’s units. They collectively hold 2,252,979 units, each unit consisting of one Class A ordinary share and one-tenth of one redeemable warrant.
The percentage is based on 41,900,000 units outstanding as of December 18, 2025, as disclosed by the issuer. The reporting persons state the holdings are in the ordinary course of business, are not for changing or influencing control, and that they are filing jointly but each disclaims membership in a group and beneficial ownership beyond their pecuniary interest.
Magnetar-affiliated investment entities have disclosed a significant passive stake in Churchill Capital Corp XI. As of December 31, 2025, Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and David J. Snyderman collectively reported beneficial ownership of 2,700,000 Class A ordinary shares, equal to approximately 6.44% of the outstanding shares.
The stake is held across several Magnetar funds, and all voting and investment power over these shares is exercised on their behalf. The ownership percentage is based on 41,900,000 Class A shares outstanding, as reported by the company. The filing states the position is held in the ordinary course of business and not for the purpose of changing or influencing control of Churchill Capital Corp XI.
MMCAP International Inc. SPC and Asset Management Inc. have amended their ownership report on Churchill Capital Corp XI, disclosing beneficial ownership of 2,700,000 Class A Ordinary Shares, representing 5.8% of the class as of 12/31/2025.
The shares are held with shared voting and dispositive power and no sole voting or dispositive power. The reporting persons certify the holdings were not acquired to change or influence control of Churchill Capital Corp XI, consistent with a passive Schedule 13G filing.
Adage Capital Management and affiliates have filed a Schedule 13G reporting a significant ownership stake in Churchill Capital Corp XI. Through Adage Capital Partners, they report beneficial ownership of 2,700,000 Class A ordinary shares, representing 6.44% of the outstanding Class A shares.
The 6.44% figure is based on 41,900,000 Class A ordinary shares outstanding after the company’s offering, private placement, and full exercise of the underwriters’ over-allotment option. The filing states the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Churchill Capital Corp XI.