Churchill Capital Corp XII has priced its IPO at $10 per unit, selling 36 million units and raising $360 million in gross proceeds. The company increased the size of the offering compared with its earlier plan.
The units began trading on the Nasdaq Global Market under the symbol "CXIIU" on April 27, 2026. Each unit is composed of one Class A ordinary share and one-tenth of one redeemable warrant. Whole warrants may be exercised to purchase one Class A ordinary share at $11.50 per share.
The company indicated it expects the Class A ordinary shares and the warrants to commence separate trading on Nasdaq under the symbols "CXII" and "CXIIW," respectively, once separate trading begins.
The offering is scheduled to close on April 29, 2026, subject to customary closing conditions. To cover potential over-allotments, the underwriters were granted a 45-day option to purchase up to an additional 5.4 million units at the IPO price.
Michael Klein is the founder of Churchill Capital Corp XII. Klein also serves as managing partner of M. Klein and Company, LLC. The blank-check company was established to pursue mergers, acquisitions, or similar business combinations with one or more businesses across any industry.
Citigroup acted as the sole book-running manager for the offering. According to the company statement, the Securities and Exchange Commission declared the registration statement for these securities effective.
Details and structure
- The IPO consisted of 36 million units priced at $10 per unit, producing $360 million in proceeds.
- Each unit includes a single Class A ordinary share and one-tenth of a redeemable warrant; one whole warrant is exercisable at $11.50.
- The underwriters hold a 45-day over-allotment option for up to 5.4 million additional units at the IPO price.
Timing and next steps
- Units launched on the Nasdaq Global Market as "CXIIU" on April 27, 2026.
- The expected separate listings for Class A shares and warrants are "CXII" and "CXIIW," respectively, pending commencement of separate trading.
- The transaction is slated to close on April 29, 2026, subject to customary closing conditions.
Context
Churchill Capital Corp XII is organized to identify and execute one or more business combinations across any industry. Citigroup served as sole book-running manager for the offering.