Core Points - Churchill Capital Corp XI successfully closed its upsized initial public offering (IPO) of 41,400,000 units, generating gross proceeds of $414,000,000 at a price of $10.00 per unit [1][3] - The units began trading on December 17, 2025, on the Nasdaq Global Market under the ticker symbol "CCXIU" [2] - Each unit consists of one Class A ordinary share and one-tenth of one redeemable warrant, with the whole warrant allowing the purchase of one Class A ordinary share at an exercise price of $11.50 [2] Financial Details - The total proceeds from the IPO and the exercise of the over-allotment option were placed in trust, amounting to $414,000,000 [3] - The offering was managed by Citigroup, which acted as the sole book-running manager [4] Company Background - Churchill Capital Corp XI was founded by Michael Klein, who is also the founder and managing partner of M. Klein and Company, LLC [4] - The company aims to pursue a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses across various industries [4]
Churchill Capital Corp XI Completes Upsized $414 Million Initial Public Offering