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Churchill Capital Corp Completes $690 Million Initial Public Offering

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Churchill Capital Corp Completes $690 Million Initial Public Offering

PR Newswire

NEW YORK, Sept. 11, 2018 /PRNewswire/ -- Churchill Capital Corp (the "Company") announced today the closing of its initial public offering of 69,000,000 units, which includes 9,000,000 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 $690,000,000, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.

The Company's units began trading on The New York Stock Exchange (the "NYSE") under the ticker symbol "CCC.U". Each unit consists of one share of the Company's Class A common stock and one half of one warrant. Each whole warrant is exercisable to purchase one share of the Company's Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on the NYSE under the symbols "CCC" and "CCC WS" respectively.

The Company 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 intends to focus its search for a target business in the information services segment of the broader technology services and software industry.

Citigroup Global Markets Inc. is acting as sole book-running manager for the offering. The offering was made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at (800) 831-9146.

A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on September 6, 2018. 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 proposed initial public offering and the anticipated use of the net proceeds thereof. 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.

Contacts

Churchill Capital Corp
info@churchillcapitalcorp.com

www.churchillcapitalcorp.com

 

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SOURCE Churchill Capital Corp

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