Churchill Capital Corp VII (CVII.U) Prices Upsized $1.2Bn IPO

SPAC pricing

Churchill Capital Corp VII (CVII.U) Prices Upsized $1.2Bn IPO

Churchill Capital Corp VII announced the pricing of its $1.2 billion IPO this morning and its units are expected to begin trading on the NYSE under the symbol “CVII.U” today, Friday, February 12.

The new company aims to combine with a business has a capable management team that could benefit from the SPAC’s expertise. Churchill VII is led by CEO, President and Chairman Michael Klein alongside CFO Jay Taragin.

Total SPAC deal count for 2021 year-to-date is now 143 with $44.1 billion in gross proceeds raised. This offering is expected to close on Wednesday, February 17.

Citigroup Global Markets Inc. (“Citigroup”) is acting as joint bookrunner and representative of the underwriters and each of J.P. Morgan Securities LLC (“J.P. Morgan”), Goldman Sachs & Co. LLC (“Goldman Sachs”) and BofA Securities (“BofA”) is acting as joint bookrunner. Weil, Gotshal & Manges LLP is serving as Issuer’s Counsel with White & Case LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.