Churchill Capital’s $600 Million Initial Public Offering

Paul, Weiss represented Churchill Capital Corp, which on September 11, 2018 completed an initial public offering of 69,000,000 units, including 9,000,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full.

The offering was priced at $10.00 per unit, resulting in gross proceeds of $690,000,000. The units, each of which consists of one share of the Company’s Class A common stock and one half of one warrant, will be listed on the New York Stock Exchange. Citigroup Global Markets Inc. was the sole bookrunning manager for the offering. B. Riley FBR acted as Co-Manager.

The company was formed by veteran dealmaker Michael Klein and former IHS Markit Ltd. CEO Jerre Stead. The company will seek a business combination with one or more businesses and intends to focus its search for a target business in the information services segment of the broader technology services and software industry.

The Paul, Weiss team includes corporate partners Raphael Russo (Picture) and Jeffrey Marell; litigation partner Richard Rosen; and tax partner David Mayo.

Winston & Strawn LLP, New York, New York, advised the underwriters with a team led by Joel Rubinstein.

Involved fees earner: Joel Rubinstein – Winston & Strawn; Raphael Russo – Paul Weiss Rifkind Wharton & Garrison; Jeffrey Marell – Paul Weiss Rifkind Wharton & Garrison; Richard Rosen – Paul Weiss Rifkind Wharton & Garrison; David Mayo – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Winston & Strawn; Paul Weiss Rifkind Wharton & Garrison;

Clients: Citigroup Global Markets Ltd; B. Riley & Co; Churchill Capital;

Author: Ambrogio Visconti