false
--12-31
0002114227
0002114227
2026-04-27
2026-04-27
0002114227
CXII:UnitsEachConsistingOfOneClassOrdinaryShareAndOnetenthOfOneRedeemableWarrantMember
2026-04-27
2026-04-27
0002114227
CXII:ClassOrdinarySharesParValue0.0001PerShareMember
2026-04-27
2026-04-27
0002114227
CXII:WarrantsEachWholeWarrantExercisableForOneClassOrdinaryShareAtExercisePriceOf11.50PerShareMember
2026-04-27
2026-04-27
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d)
OF
THE SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): April 29, 2026 (April 27, 2026)
CHURCHILL
CAPITAL CORP XII
(Exact
name of registrant as specified in its charter)
| Cayman
Islands |
|
001-43247 |
|
98-1922580 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File Number) |
|
(IRS
Employer
Identification
No.) |
640
Fifth Avenue, 14th Floor
New
York, NY 10019
(Address
of principal executive offices, including zip code)
Registrant’s
telephone number, including area code: (212) 380-7500
Not
Applicable
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
| ☐ |
Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ |
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ |
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ |
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
| Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
| Units,
each consisting of one Class A ordinary share and one-tenth of one redeemable warrant |
|
CXIIU |
|
The
Nasdaq Stock Market LLC |
| Class
A ordinary shares, par value $0.0001 per share |
|
CXII |
|
The
Nasdaq Stock Market LLC |
| Warrants,
each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share |
|
CXIIW |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 1.01.
Entry into a Material Definitive Agreement.
On
April 29, 2026, Churchill Capital Corp XII (the “Company”) consummated its initial public offering (“IPO”)
of 41,400,000 units (the “Units”), including 5,400,000 Units issued pursuant to the full exercise of the underwriters’
over-allotment option. Each Unit consists of one Class A ordinary share of the Company, par value $0.0001 per share (the “Class
A Ordinary Shares”), and one-tenth of one redeemable warrant of the Company (each, a “Warrant”), with each
whole Warrant entitling the holder thereof to purchase one Class A Ordinary Share for $11.50 per share. The Units were sold at a price
of $10.00 per Unit, generating gross proceeds to the Company of $414,000,000.
In
connection with the IPO, the Company entered into the following agreements, forms of which were previously filed as exhibits to the Company’s
registration statement on Form S-1 (File No. 333-294851) for the IPO, originally filed with the U.S. Securities and Exchange Commission
on April 2, 2026, as amended (and together with the registration statement on Form S-1MEF (File No. 333-295360), filed with the Commission
on April 27, 2026, the “Registration Statement”):
| ● | An
Underwriting Agreement, dated April 27, 2026, by and between the Company and Citigroup Global Markets Inc., as the underwriter, a copy
of which is attached as Exhibit 1.1 hereto and incorporated herein by reference. |
| ● | A
Public Warrant Agreement, dated April 27, 2026, by and between the Company and Continental Stock Transfer & Trust Company, as warrant
agent, a copy of which is attached as Exhibit 4.1 hereto and incorporated herein by reference. |
| ● | A
Private Warrant Agreement, dated April 27, 2026, by and between the Company and Continental Stock Transfer & Trust Company, as warrant
agent, a copy of which is attached as Exhibit 4.2 hereto and incorporated herein by reference. |
| ● | An
Investment Management Trust Agreement, dated April 27, 2026, by and between the Company and Continental Stock Transfer & Trust Company,
as trustee, a copy of which is attached as Exhibit 10.1 hereto and incorporated herein by reference. |
| ● | A
Registration Rights Agreement, dated April 27, 2026, by and among the Company and certain security holders, a copy of which is attached
as Exhibit 10.2 hereto and incorporated herein by reference. |
| ● | A
Private Placement Units Purchase Agreement, dated April 27, 2026 (the “Private Placement Units Purchase Agreement”),
by and between the Company and the Company’s sponsor, Churchill Sponsor XII LLC (the “Sponsor”), a copy of which
is attached as Exhibit 10.3 hereto and incorporated herein by reference. |
| ● | A
Letter Agreement, dated April 27, 2026, by and among the Company, its officers, its directors and the Sponsor, a copy of which is attached
as Exhibit 10.4 hereto and incorporated herein by reference. |
| |
● |
An
Administrative Support Agreement, dated April 27, 2026, by and between the Company and an affiliate of the Sponsor, a copy of which
is attached as Exhibit 10.5 hereto and incorporated herein by reference. |
| |
|
|
| |
● |
Indemnification
Agreements, dated April 27, 2026, by and among the Company and each director and officer of the Company, a form of which is attached
as Exhibit 10.6 hereto and incorporated herein by reference. |
Item 3.02.
Unregistered Sales of Equity Securities.
Simultaneously
with the closing of the IPO, pursuant to the Private Placement Units Purchase Agreement, the Company completed the private sale of an
aggregate of 350,000 units (the “Private Placement Units”) to the Sponsor at a purchase price of $10.00 per Private
Placement Unit, generating gross proceeds to the Company of $3,500,000. The Private Placement Units (and underlying securities) are identical
to the Units sold in the IPO, except as otherwise disclosed in the Registration Statement. No underwriting discounts or commissions were
paid with respect to such sale. The issuance of the Private Placement Units was made pursuant to the exemption from registration contained
in Section 4(a)(2) of the Securities Act of 1933, as amended.
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On
April 27, 2026, in connection with the IPO, William Sherman was appointed to the board of directors of the Company (the “Board”)
effective April 28, 2026. Effective April 28, 2026, Mr. Sherman was appointed to the Board’s Audit Committee, also serving as interim
chair of the Audit Committee. Mr. Sherman was also appointed to the Board’s Compensation Committee, serving as chair of the Compensation
Committee.
On
April 27, 2026, the Company entered into indemnification agreements with each of the directors and executive officers, which require
the Company to indemnify each of them to the fullest extent permitted by applicable law and to advance expenses incurred as a result
of any proceeding against them as to which they could be indemnified. The foregoing summary of the indemnification agreements does not
purport to be complete and is subject to, and qualified in its entirety by, the full text of the form of indemnification agreement, which
is filed as Exhibit 10.6 to this Current Report on Form 8-K and incorporated herein by reference.
Item 5.03.
Amendments to Certificate of Incorporation or Bylaws; Change in Fiscal Year.
On
April 27, 2026, in connection with the IPO, the Company filed its amended and restated memorandum and articles of association (the “Amended
and Restated Memorandum and Articles of Association”) with the Cayman Islands Registrar of Companies, which was effective on
April 27, 2026. The terms of the Amended and Restated Memorandum and Articles of Association are set forth in the Registration Statement
and are incorporated herein by reference. A copy of the Amended and Restated Memorandum and Articles of Association is attached as Exhibit
3.1 hereto and incorporated herein by reference.
Item 8.01.
Other Events.
A
total of $414,000,000, comprised of $412,500,000 of the net proceeds from the IPO (which amount includes up to $15,490,000 of the underwriter’s
deferred discount) and $1,500,000 of the proceeds of the sale of the Private Placement Units, was placed in a U.S.-based trust account
maintained by Continental Stock Transfer & Trust Company, acting as trustee. Except with respect to interest earned on the funds
in the trust account that may be released to the Company to pay its taxes, to fund its working capital requirements (subject to an annual
limit of $1,000,000), and for winding up and dissolution expenses, the funds held in the trust account will not be released from the
trust account until the earliest of (i) the completion of the Company’s initial business combination, (ii) the redemption of the
Company’s public shares if it is unable to complete its initial business combination within 24 months from the closing of the IPO
(or 27 months from the closing of the IPO if the Company has executed a letter of intent, agreement in principle or definitive agreement
for an initial business combination within 24 months from the closing of the IPO), subject to applicable law, and (iii) the redemption
of the Company’s public shares properly submitted in connection with a shareholder vote to amend the Company’s Amended and
Restated Memorandum and Articles of Association to modify the substance or timing of its obligation to redeem 100% of the Company’s
public shares if it has not consummated an initial business combination within 24 months from the closing of the IPO (or 27 months from
the closing of the IPO if the Company has executed a letter of intent, agreement in principle or definitive agreement for an initial
business combination within 24 months from the closing of the IPO) or with respect to any other material provisions relating to shareholders’
rights or pre-initial business combination activity.
On
April 27, 2026, the Company issued a press release announcing the pricing of the IPO, a copy of which is attached as Exhibit 99.1 to
this Current Report on Form 8-K.
On
April 29, 2026, the Company issued a press release announcing the closing of the IPO, a copy of which is attached as Exhibit 99.2 to
this Current Report on Form 8-K.
Item 9.01
Financial Statements and Exhibits.
(d)
Exhibits
The
following exhibits are being filed herewith:
| Exhibit
No. |
|
Description |
| |
|
| 1.1 |
|
Underwriting Agreement, dated April 27, 2026, by and between the Company and Citigroup Global Markets Inc., as the underwriter. |
| 3.1 |
|
Amended and Restated Memorandum and Articles of Association of the Company. |
| 4.1 |
|
Public Warrant Agreement, dated April 27, 2026, by and between the Company and Continental Stock Transfer & Trust Company, as warrant agent. |
| 4.2 |
|
Private Warrant Agreement, dated April 27, 2026, by and between the Company and Continental Stock Transfer & Trust Company, as warrant agent. |
| 10.1 |
|
Investment Management Trust Agreement, April 27, 2026, by and between the Company and Continental Stock Transfer & Trust Company, as trustee. |
| 10.2 |
|
Registration Rights Agreement, dated April 27, 2026, by and among the Company and certain security holders. |
| 10.3 |
|
Private Placement Units Purchase Agreement, dated April 27, 2026, by and between the Company and the Sponsor. |
| 10.4 |
|
Letter Agreement, dated April 27, 2026, by and among the Company, its officers, directors, and the Sponsor. |
| 10.5 |
|
Administrative Support Agreement, dated April 27, 2026, by and between the Company and an affiliate of the Sponsor. |
| 10.6 |
|
Form of Indemnification Agreement. |
| 99.1 |
|
Press Release, dated April 27, 2026. |
| 99.2 |
|
Press Release, dated April 29, 2026. |
| 104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
| |
CHURCHILL CAPITAL CORP XII |
| |
|
|
| |
By: |
/s/ Jay Taragin |
| |
|
Name: |
Jay Taragin |
| |
|
Title: |
Chief Financial Officer |
| |
|
|
|
| Dated: April 29, 2026 |
|
|
Exhibit 99.1
Execution Version
Churchill Capital Corp XII Announces the Pricing
of Upsized $360 Million Initial Public Offering
NEW YORK, April 27, 2026 (GLOBE NEWSWIRE)
— Churchill Capital Corp XII (the “Company”) announced the pricing of its upsized initial public offering
of 36,000,000 units at $10.00 per unit. The units will be listed on the Nasdaq Global Market (“Nasdaq”) under the
symbol “CXIIU” commencing today. Each unit consists of one Class A ordinary share of the Company and one-tenth of one
redeemable warrant, 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 comprising the units begin separate trading, the Company expects that the
Class A ordinary shares and warrants will be listed on Nasdaq under the symbols “CXII” and “CXIIW,”
respectively. The offering is expected to close on April 29, 2026, subject to customary closing conditions.
Churchill Capital Corp XII 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 is acting as sole book-running manager
for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 5,400,000 units at the initial
public offering price to cover over-allotments, if any.
The offering is being made only by means of a
prospectus, copies of which 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 U.S. Securities and Exchange Commission’s (the “SEC”)
website at www.sec.gov.
A registration statement relating to these securities
has been declared effective by the SEC. 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 an 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 proposed initial public offering and the anticipated
use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all,
or 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 XII
info@churchillcapitalcorp.com
212-380-7500
Exhibit
99.2
Churchill
Capital Corp XII Completes Upsized $414 Million Initial Public Offering
NEW
YORK, NY, April 29, 2026 (GLOBE NEWSWIRE) — Churchill Capital Corp XII (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 April 28, 2026 on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “CXIIU.”
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 “CXII” and “CXIIW,” 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 April 27, 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 XII
info@churchillcapitalcorp.com
212-380-7500