NEW YORK, Dec. 15, 2020 /PRNewswire/ -- Churchill
Capital Corp V (the "Company") announced the pricing of its initial
public offering of 45,000,000 units at $10.00 per unit. The units will be listed on the
New York Stock Exchange (the "NYSE") under the symbol "CCV.U"
commencing on December 16, 2020. Each
unit consists of one share of the Company's Class A common stock
and one-fourth 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 "CCV" and "CCV WS," respectively.
Churchill Capital Corp V 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.
Citigroup Global Markets Inc. ("Citigroup") is acting as joint
bookrunner and representative of the underwriters and each of
Goldman Sachs & Co. LLC ("Goldman Sachs"), J.P. Morgan
Securities LLC ("J.P. Morgan") and BofA Securities ("BofA") is
acting as joint bookrunner. B. Riley Securities, Inc. is acting as
co-manager. The Company has granted the underwriters a 45-day
option to purchase up to 6,750,000 additional units at the
initial public offering price to cover over-allotments, if any.
This offering will only be made by means of a prospectus. Copies
of the preliminary prospectus relating to the offering and final
prospectus, when available, may be obtained from Citigroup, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717 or by
telephone at (800) 831-9146; Goldman Sachs, Attention: Prospectus
Department, 200 West Street, New York,
NY 10282, telephone: +1 866 471 2526, facsimile: +1 212 902
9316, or email: prospectus-ny@ny.email.gs.com; J.P. Morgan, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, telephone:
866-803-9204, email: prospectus-eq_fi@jpmchase.com; and BofA, 200
North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn: Prospectus
Department, or email: dg.prospectus_requests@bofa.com.
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.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute
"forward-looking statements," including with respect to the
proposed initial public offering and the anticipated use of the net
proceeds. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the net proceeds of the offering will be used as indicated.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company's registration
statement and preliminary prospectus for the Company's offering
filed with the SEC. Copies are available on the SEC's
website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
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SOURCE Churchill Capital Corp V
