Churchill Capital VII said i(s sponsor will continued making $1 million monthly deposits into trust if shareholders approve another extension. The SPAC wants an additional six months up to Aug. 17 to complete its proposed merger with CorpAcq Holdings Limited. The deal has a pro forma enterprise value of approximately $1.58 billion.
A vote on the extension plan is slated for Feb. 8.
Based in Altrincham, England and founded in 2006, CorpAcq said it has cultivated a reputation as a “preferred buyer” for founder-led small and medium-sized enterprises based on its “founder-friendly, management empowered value proposition and focus on investing for long-term performance.” Read more.
Source: Churchill Capital VII Sponsor to Continue Pouring M/Month into Trust for Further Extension