Churchill Announces Redemption of Public Shares
“While market conditions are not favorable today for the public listing of CorpAcq through our proposed merger, we continue to believe in the strong fundamentals and growth prospects of the Company,” said
“I am very proud of the tremendous business that the CorpAcq team has built, and I am confident in the company’s future growth opportunities,” said
Churchill Redemption Information
In view of the termination of the Merger Agreement, Churchill will not complete an initial business combination by
As stated in the Certificate of Incorporation, if Churchill will not complete an initial business combination by
The per-share redemption price for the public shares will be approximately
The Redemption Amount will be payable to the holders of the public shares upon presentation of their respective stock or unit certificates or other delivery of their shares or units to Churchill’s transfer agent, Continental Stock Transfer & Trust Company. Beneficial owners of public shares held in “street name,” however, will not need to take any action in order to receive the Redemption Amount.
There will be no redemption rights or liquidating distributions with respect to Churchill’s warrants (including the private placement warrants owned by the Company’s sponsor), which will expire worthless.
Churchill’s sponsor has waived its redemption rights with respect to the outstanding shares of Class B common stock, par value
Churchill expects that Nasdaq will file a Form 25 with the United States Securities and Exchange Commission (the “SEC“) to delist its securities and thereafter expects to file a Form 15 with the SEC to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended.
About Churchill Capital VII
Churchill VII 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.
About CorpAcq Holdings Limited
CorpAcq is a corporate compounder founded in 2006 with deep commercial experience and a diversified portfolio of 43 companies (as of
Forward-Looking Statements
This press release may include, and oral statements made from time to time by representatives of Churchill or CorpAcq may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to Churchill, CorpAcq or their respective management teams, identify forward-looking statements. Such forward-looking statements are based on the beliefs of Churchill’s or CorpAcq’s management, as well as assumptions made by, and information currently available to, Churchill’s or CorpAcq’s management, as the case may be. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in Churchill’s filings with the Commission. All subsequent written or oral forward-looking statements attributable to Churchill or CorpAcq or persons acting on Churchill’s or CorpAcq’s behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Churchill or CorpAcq, including those set forth in the Risk Factors section of Churchill’s annual report on Form 10-K for the fiscal year ended
Contacts
Churchill Capital Corp VII
(212) 230-5930
CorpAcq
Email: CorpAcqIR@icrinc.com
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