Churchill Capital Corp XIII has completed pricing for its initial public offering, selling 36,000,000 units at $10.00 apiece and raising $360 million in what the company describes as an upsized transaction. The combined securities will begin trading on the Nasdaq Global Market under the ticker symbol "XIIIU."
Each offered unit comprises one Class A ordinary share together with one-tenth of a redeemable warrant. Once the combined securities begin to trade separately, the Class A shares and the warrants are expected to carry the Nasdaq symbols "XIII" and "XIIIW," respectively. Each whole warrant grants the holder the right to purchase one Class A ordinary share at an exercise price of $11.50 per share.
The offering is slated to close on August 3, 2026, subject to customary closing conditions. Citigroup is serving as the sole book-running manager for the transaction. In addition, the company has provided the underwriter a 45-day option to acquire up to an additional 5,400,000 units at the IPO price to cover potential over-allotments.
Churchill Capital Corp XIII is a special purpose acquisition company formed to pursue a business combination. The vehicle was founded by Michael Klein, who also functions as founder and managing partner of M. Klein and Company, LLC. The firm was organized with the stated purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, and it may seek a target in any industry.
Summary of the transaction details:
- Units offered: 36,000,000
- Price per unit: $10.00
- Total proceeds: $360,000,000
- Nasdaq listing symbol (units): "XIIIU"
- Expected separate trading symbols: "XIII" (Class A shares) and "XIIIW" (warrants)
- Warrant exercise price: $11.50 per whole warrant
- Expected closing: August 3, 2026, subject to customary closing conditions
- Book-running manager: Citigroup
- Over-allotment option: 45 days to purchase up to 5,400,000 additional units at the IPO price
The company s broad mandate to pursue a combination in any industry leaves the eventual use of proceeds and target selection open, consistent with the typical structure of a special purpose acquisition company. Investors in the units will initially hold the bundled securities and will later see the components trade separately under the indicated Nasdaq symbols if and when the securities begin separate trading.