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Churchill Capital Corp X, a blank check company, successfully completed its initial public offering (IPO) on May 15, 2025, raising $414 million. The company, which operates under the name 05 Real Estate & Construction, offered 41.4 million units at $10 each, including an over-allotment option fully exercised by the underwriters for an additional 5.4 million units.
Each unit issued comprises one Class A ordinary share and one-quarter of one redeemable warrant. Each whole warrant allows the holder to purchase one Class A ordinary share at $11.50. The company’s shares and warrants are listed on The Nasdaq Stock Market under the symbols CCCX and CCCXW, respectively.
Concurrent with the IPO, Churchill Capital Corp X conducted a private placement of 300,000 units to its sponsor, Churchill Sponsor X LLC, generating an additional $3 million.
The proceeds from the IPO and the private placement, totaling approximately $414 million, have been placed into a trust account with Continental Stock Transfer & Trust Company.
An audited balance sheet as of May 15, 2025, reflecting the receipt of the IPO and private placement proceeds, has been included in the company’s Form 8-K filing with the SEC. This move increases the company’s financial flexibility for future business endeavors, including potential mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations.
Churchill Capital Corp X has been identified as an emerging growth company, and the financial statements and exhibits are available in the SEC filing. The information in this article is based on a press release statement.
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