Churchill Capital X, a blank check company founded by dealmaker and former Citi executive Michael Klein, filed on Monday with the SEC to raise up to $300 million in an initial public offering.
The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Michael Klein, the founder and Managing Partner of strategic advisory firm M. Klein and Company. He previously held various roles at Citi and Salomon Smith Barney. CFO Jay Taragin is the CFO of M. Klein and Company. The SPAC plans to target businesses that generate stable free cash flow, are sourced through Churchill's proprietary channels, and have a committed and capable management team, among other characteristics.
Klein's most recent SPACs include Churchill Capital IX (CCIXU), which is still looking for a target, and Churchill Capital VII (CVII), Churchill Capital VI (CCVI.U), and Churchill Capital V (CCV.U), all of which have liquidated.
Churchill Capital X was founded in 2024 and plans to list on the Nasdaq under the symbol CCCXU. BTIG is the sole bookrunner on the deal.
