CC Neuberger Principal Holdings I, a blank check company formed by CC Capital and Neuberger Berman, raised $360 million by offering 36 million units at $10. CC Neuberger Principal I originally filed to raise $300 million by offering 30 million units. The company changed its units offered to consist of one share and one third of a redeemable warrant, up from one quarter, on 4/23.
The company is led by CEO Chinh Chu, CC Capital's founder and Managing Partner, and Chairman Douglas Newton, a CC Capital Senior Managing Director.
CC Neuberger Principal Holdings I plans to list on the NYSE under the symbol PCPL.U. Goldman Sachs, BofA Securities, and UBS Investment Bank acted as lead managers on the deal.
