Churchill Capital, a blank check company formed to acquire a SaaS company, filed with the SEC on Monday for an initial public offering.
The New York, NY-based company plans to raise $400 million by offering 40 million units at a price of $10. Each unit will consist of one share of common stock and one half of one warrant to purchase one share of common stock at $11.50. At $10, Churchill Capital would command a market value of $500 million.
Churchill Capital was founded in 2018 and plans to list on the NYSE, though it has not selected a ticker. Citi is the sole bookrunner on the deal. No pricing terms were disclosed.
