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Banking industry

Churchill Capital Corp V Announces Initial Public Offering Pricing

Strategic Insights

— 1 min read

Churchill Capital Corp V, a company founded by Michael Klein, has announced the pricing of its initial public offering of 45,000,000 units at $10.00 per unit. The units will be listed on the New York Stock Exchange (NYSE) under the symbol "CCV.U" starting on December 16, 2020. Each unit consists of one share of the Company's Class A common stock and one-fourth of one warrant, allowing the holder to purchase one share of Class A common stock at $11.50 per share. This offering is expected to be followed by the listing of Class A common stock and warrants on the NYSE under the symbols "CCV" and "CCV WS," respectively.

Key Takeaways:

  • Churchill Capital Corp V has priced its initial public offering of 45,000,000 units at $10.00 per unit, with a warrant to purchase one share of Class A common stock at $11.50 per share.
  • The units will be listed on the NYSE under the symbol "CCV.U" on December 16, 2020, and the Class A common stock and warrants will be listed under the symbols "CCV" and "CCV WS," respectively.
  • Michael Klein, the founder and managing partner of M. Klein and Company, founded Churchill Capital Corp V, which was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.
  • The Company may pursue business combinations in any industry, and Citigroup Global Markets Inc. is acting as joint bookrunner and representative of the underwriters.
  • The underwriters have been granted a 45-day option to purchase up to 6,750,000 additional units at the initial public offering price.
  • Churchill Capital Corp V entered into a registration statement with the U.S. Securities and Exchange Commission, which has been declared effective.

Statistics:

  • 45,000,000 units have been issued at $10.00 per unit.
  • The warrant price is $11.50 per share of Class A common stock.
  • The underwriters have a 45-day option to purchase up to 6,750,000 additional units.
  • The Company's initial public offering will be made through a prospectus.
  • The registration statement, related to these securities, has been declared effective by the U.S. Securities and Exchange Commission.

Sources:

  • Churchill Capital Corp V
  • Contify.com

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