CCX - Churchill Capital Files for Another $1 Billion SPAC IPO
A special-purpose acquisition company (SPAC) is a shell company that raises money by going public in order to acquire a private company, effectively taking the private company public. 2020 has seen SPACs rise in popularity because they are a faster route for companies to access the public markets and have seen strong investor demand.
Having successfully raised capital with three prior SPACs and closed deals for two of them, Churchill Capital has recently filed the paperwork for its fourth SPAC. It will be called Churchill Capital IV and will trade under the ticker CCIV once it goes public. This SPAC has an ambitious plan to raise $1 billion that it can use to acquire a private company.
Having successfully raised funding for three prior SPACs, Churchill Capital IV will have something that can give investors confidence: a track record.