CC Neuberger Principal Holdings I, a blank check company formed by CC Capital and Neuberger Berman, filed on Friday with the SEC to raise up to $300 million in an initial public offering.
The New York, NY-based company plans to raise $300 million by offering 30 million units at a price of $10. At $10, CC Neuberger Principal Holdings I would command a market value of $425 million. Each unit consists of one share of common stock and one-fourth of a warrant to purchase a share of common stock at $11.50 per share.
CC Neuberger Principal Holdings I was founded in 2020 and plans to list on the NYSE under the symbol PCPL.U. Goldman Sachs and BofA Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
