Corporate ActionAug 3, 2026, 04:08 PM
Churchill Capital Corp XIII closes upsized IPO of 41.4M units for $414M
AI Summary
Churchill Capital Corp XIII announced the closing of its upsized initial public offering, raising gross proceeds of $414 million. The offering included 41,400,000 units, with 5,400,000 units issued from the full exercise of the over-allotment option. Each unit was priced at $10.00 and consists of one Class A ordinary share and one-tenth of one redeemable warrant. The company, a SPAC founded by Michael Klein, placed $414 million of the proceeds into trust for future business combinations.
Key Highlights
- Closed upsized initial public offering of 41,400,000 units.
- Generated gross proceeds of $414,000,000.
- Offering priced at $10.00 per unit.
- Included 5,400,000 units from full exercise of over-allotment option.
- $414,000,000 of proceeds placed in trust.
- Units began trading on Nasdaq under "XIIIU" on July 31, 2026.
- Each unit includes one-tenth of one warrant with $11.50 exercise price.
Price Impact
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