Klein, Lazard, Apollo lead US$8bn SPACIPO week

摘要

Another 25 SPACs raised US$8bn last week. There has been an average of 23 new SPACs weekly so far this year, taking year-to-date funding to US$42.4bn across 142 US-listed SPAC IPOs. Last Thursday Michael Klein added his sixth and seventh SPACs with upsized US$480m and US$1.2bn raises for Churchill capital ⅵ and churchill capital vii. Churchill Ⅵ was increased from US$400m at pricing and Churchill Ⅶ from US$lbn but up from the US$300m sum originally filed. Both of the new Klein SPACs are structured with one-fifth warrant gearing, on the more aggressive end of recent funding. These are massive raises, particularly Churchill VII, that provide ammunition for huge merger targets.