Churchill Capital Corp VI announced the pricing of its initial public offering of 48,000,000 units at $10.00 per unit. The units will be listed on the New York Stock Exchange under the symbol "CCVI.U" commencing on February 12, 2021. Each unit consists of one share of the Company's Class A common stock and one-fifth of one warrant, each whole warrant entitling the holder thereof to purchase one share of the Company's Class A common stock at an exercise price of $11.50 per share. Once the securities constituting the units begin separate trading, we expect that the Class A common stock and warrants will be listed on the NYSE under the symbols "CCVI" and "CCVI WS," respectively.
Churchill Capital Corp VI was founded by Michael Klein, who is also the founder and managing partner of M. Klein and Company. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. It may pursue an initial business combination target in any business or industry.
J.P. Morgan Securities LLC ("J.P. Morgan") is acting as joint bookrunner and representative of the underwriters and each of Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and BofA Securities is acting as joint bookrunner. The Company has granted the underwriters a 45-day option to purchase up to 7,200,000 additional units at the initial public offering price to cover over-allotments, if any.
A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the "SEC"). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction.