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Ex-Citigroup Exec's Latest SPAC Aims For $400M IPO

Law360 (June 11, 2019, 3:56 PM EDT) -- Churchill Capital Corp. II, a special purpose acquisition company helmed by a former Citigroup executive, unveiled plans for a $400 million initial public offering Monday less than a year after the debut of a similar Churchill blank-check business.

Churchill II said it plans to offer 40 million units at $10 apiece, with each unit consisting of one share of common stock and one-third of a warrant. A full warrant is redeemable for a single share of Churchill II common stock, the company said.

Churchill II also noted that Citigroup, the lone underwriter for the offering, has the ability to acquire an...

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