Churchill Capital VI and sister SPAC Churchill Capital VI today filed proxies with plans to call shareholder meetings for a vote on merger deadline extensions. Both spacs want to push their deadlines from May until February 2024.
Churchill VI and VII both announced the signing of letters of intent Feb. 17 for potential deals. That was the same date the SPACs were due to terminate unless they had at least an LOI in hand. That gave each SPAC an automatic three-month extension until May.
With the May termination date approaching, now they seek shareholder approval for new deadlines next year.
Both companies are led by CEO and Chairman michael klein, founder and managing partner of strategic advisory firm M. Klein and Company.
Churchill Capital VI raised $480 million in a February 2021 ipo. Churchill Capital VII priced at $1.2 billion on the same day as its sister SPAC two years ago. Proxy for Churchill VI. Read more on VII.
Source: Churchill Capital VI and VII Files Proxies to Extend Deadlines into 2024