Corporate ActionApr 26, 2026, 05:22 AM
CXII Files S-1 for $300M IPO of 30M Units at $10.00
AI Summary
Churchill Capital Corp XII (CXII) filed an amendment to its S-1 registration statement for an initial public offering of 30,000,000 units at $10.00 per unit, aiming to raise $300,000,000. Each unit comprises one Class A ordinary share and one-tenth of one warrant, with warrants exercisable at $11.50 per share. The blank check company, led by Michael Klein, seeks to complete a business combination within 24 to 27 months, with $300 million of proceeds to be placed in a trust account. The sponsor, Churchill Sponsor XII LLC, will also purchase 350,000 private placement units for $3.5 million.
Key Highlights
- Initial Public Offering of 30,000,000 units at $10.00 per unit.
- Aims to raise $300,000,000 in gross proceeds from the IPO.
- Each unit consists of one Class A ordinary share and one-tenth of one warrant.
- Warrants are exercisable at $11.50 per share.
- Sponsor to purchase 350,000 private placement units for $3,500,000.
- $300,000,000 of proceeds will be placed into a U.S.-based trust account.
- Company has 24 to 27 months to complete an initial business combination.