Churchill Capital, a blank check company formed by dealmaker Michael Klein and former IHS CEO Jerre Stead to acquire a data and analytics provider, raised the proposed deal size for its upcoming IPO on Thursday.
The New York, NY-based company now plans to raise $600 million by offering 60 million shares at a price of $10. The company had previously filed to offer 45 million shares at $10. At that price, Churchill Capital will raise 33% more in proceeds than previously anticipated. Each unit consists of one ordinary share and one half of one warrant exercisable at $11.50.
Churchill Capital was founded in 2018 and plans to list on the NYSE under the symbol CCC.U. Citi is the sole bookrunner on the deal. It is expected to price this week.
