A blank-check firm backed by veteran Wall Street dealmaker Michael Klein has raised its initial public offering size to $1 billion from $300 million, looking to tap into a roaring investor interest in new offerings.
Churchill Capital Corp VII said it was looking to sell 100 million units priced at $10 each, up from its earlier plan of 30 million units, a regulatory filing showed on Monday.
Some of Klein-backed blank-check firms have already struck deals. Last year, healthcare services provider MultiPlan signed an $11 billion deal to go public by merging with another entity of Churchill Capital.
Read more at: Reuters
By Anirban Sen, Niket Nishant, Sriraj Kalluvila and Shinjini Ganguli.
