CCIV - Michael Klein raises $1.7B for new Churchill Capital SPACs as CCIV rallies on possible M&A deal

Veteran financier Michael Klein disclosed Friday that he raised $1.68B for Churchill Capital Corp. VI and Churchill Capital Corp. VII, his two latest SPAC IPOs, after increasing both offerings’ share counts. Klein said in a statement that Churchill Capital VII (CVII) raised $1.2 billion by selling 120M investment units at $10 each, while Churchill Capital VII (CCVI) took in $480M by offering 48M units.Each unit represents one Class A common share of its respective special purpose acquisition company, plus 0.2 warrants to buy a second share at $11.50 in the future. Churchill also granted underwriters the option to buy 18M additional units of Churchill Capital VII and 7.2M units of Churchill Capital VI for any overallotments. Klein boosted both IPOs' share counts from where they stood when he first announced the initial public offerings in January. He originally offered 40M units plus up to 6M more for overallotments on CCVI,

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Michael Klein raises $1.7B for new Churchill Capital SPACs as CCIV rallies on possible M&A deal