Paul Weiss-Led Churchill Capital SPAC No. 4 Prices $1.8B IPO

Law360 (July 30, 2020, 10:51 PM EDT) -- Units for former Citigroup executive Michael Klein's fourth blank-check company began trading Thursday as part of its upsized $1.8 billion initial public offering — the second-largest of its kind so far this year — in a deal guided by Paul Weiss and White & Case.

The offering comes as special purpose acquisition companies have seen an upswing in activity, with some tapping the market for record-breaking amounts, even as the traditional IPO market has seen a restart following a brief pause at the height of the coronavirus pandemic.

Blank-check companies, also known as SPACs, raise funds through an initial public offering to...

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