Corporate ActionApr 29, 2026, 11:51 AM
CXII Closes Upsized IPO, Raises $414M from 41.4M Units
AI Summary
Churchill Capital Corp XII announced the closing of its upsized initial public offering, raising gross proceeds of $414,000,000. The offering included 41,400,000 units priced at $10.00 each, with 5,400,000 units issued from the full exercise of the over-allotment option. The units began trading on Nasdaq under "CXIIU" on April 28, 2026. Each unit comprises one Class A ordinary share and one-tenth of one redeemable warrant, with warrants exercisable at $11.50 per share. The company, a SPAC founded by Michael Klein, intends to pursue a business combination.
Key Highlights
- CXII closed its upsized initial public offering.
- Raised gross proceeds of $414,000,000.
- Issued 41,400,000 units at $10.00 per unit.
- Includes 5,400,000 units from the over-allotment option.
- Units began trading on Nasdaq under "CXIIU" on April 28, 2026.
- Each unit consists of one Class A ordinary share and one-tenth of one redeemable warrant.
- Warrants entitle holders to purchase shares at an exercise price of $11.50 per share.
- $414,000,000 of the proceeds were placed in trust.