CorpAcq To Go Public Via Business Combination With Churchill Capital Corp VII
Portfolio Pulse from Happy Mohamed
UK-based CorpAcq Holdings Limited is set to go public through a business combination with Churchill Capital Corp VII (NYSE:CVII), a special purpose acquisition company. The transaction values CorpAcq at approximately $1.58 billion and is expected to provide CorpAcq with up to $592 million in cash held in Churchill VII's trust account. The combined company will operate as CorpAcq and intends to list on the New York Stock Exchange. CorpAcq also plans to initiate a dividend policy from closing, supported by free cash flow from current operations.
August 01, 2023 | 1:59 pm
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Churchill Capital Corp VII (NYSE:CVII) is merging with CorpAcq, which will provide CorpAcq with up to $592 million in cash. The combined company will operate as CorpAcq and intends to list on the NYSE.
The merger with CorpAcq is a significant event for Churchill Capital Corp VII. It will provide CorpAcq with substantial cash, which could be used to fund growth initiatives. The news of the merger could potentially drive Churchill Capital Corp VII's stock price up in the short term.
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