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Blank-check company Churchill Capital files for $400M IPO

Blank-check company Churchill Capital Corp. filed a registration statement to raise up to $400 million in an initial public offering at a price of $10 per security.

The company registered 40 million units, each consisting of one share of class A common stock and 0.5 redeemable warrant, at a proposed maximum offering price per security of $10. The underwriters have been granted a 45-day option to buy up to an additional 6 million units to cover overallotments, if any.

Net proceeds will be used to complete an initial business combination with a target business that has not been identified.