Liquidated · 18 Aug 2024CVII.U · NYSECIK 1828248Sponsor at IPO: Churchill Sponsor VII LLC
Churchill Capital Corp VII
$1.4BTrust raised at IPO · 41% of public shares left after its last counted vote
- IPO11 Feb 2021
- Searching24 months
- Deal announced—
- Liquidated18 Aug 2024
- 01
Larger than 99% of 2021’s SPAC IPOs.
$1.4B raised, against a median of $239M for the 610 SPACs that priced in 2021.
- 02
59% of public shares redeemed across 2 votes.
2 extension votes, counted from the SPAC’s 8-Ks. 41% of the public shares remained after the last one.
- 03
The trust was liquidated.
Public shares were redeemed and the SPAC did not complete a merger.
Worked out from checked figures in snapshot 14 · no forecasts or advice
Key terms
Other 2021 SPAC IPOs →- IPO priced
- 11 Feb 2021
- IPO closed
- 17 Feb 2021
- Raised
- $1.4B1
- Units sold
- 138,000,0002
- Trust raised
- $1.4B3
- Trust per unit
- $10.004
- Unit
- 1 sh + ⅕ warrant5
- Months to complete
- 246
- Deadline before extensions
- 17 Feb 2023
- Over-allotment
- Exercised in full
Each unit: “one share of Class A common stock and one-fifth of one redeemable warrant”
How it compares
Churchill Capital Corp VII against the 610 SPACs that priced in 2021.
- Raised
- $1.4B
- 99% of 2021 SPACs are below it
- 2021 median: $239M
- Trust per unit
- $10.00
- 63% of 2021 SPACs match it
- 2021 median: $10.00
- Months to complete
- 24
- 56% of 2021 SPACs match it
- 2021 median: 24
- Redeemed across its votes
- 59%
- 92% of 2021 SPACs are above it
- 2021 median: 94%
Trust and redemptions
- Extension vote · 11 May 202379,983,929 of 138,000,000 redeemed (58%)
- Extension vote · 8 Feb 2024951,810 of 58,016,071 redeemed (2%)
Public shares before each vote and the shares redeemed, as its 8-Ks (or the next 10-Q or 10-K) state them. Only votes whose redemptions were paid count.
Firms named in the prospectus
Bookrunners
Company counsel
Underwriters’ counsel
Auditor
Other SPACs from Churchill Capital
Churchill Capital’s track record →Churchill Capital has brought 11 SPACs to market since 1 January 2019, $8.2B in all: 4 completed, 1 with a deal announced, 2 searching, 4 liquidated. 4 of the 8 that reached an end completed a merger.
No SPAC named Churchill Capital I and VIII is in our data. Each either priced before 1 January 2019, came to market under another name (SPACs are listed by their name at IPO), never came to market, or is not yet in an approved snapshot, so this record may understate the sponsor.
| SPAC | IPO | Raised | Status | Outcome | Months |
|---|---|---|---|---|---|
| Churchill Capital Corp XIII | 30 Jul 2026 | $414M | Searching | — | — |
| Churchill Capital Corp XII | 27 Apr 2026 | $414M | Searching | — | — |
| Churchill Capital Corp XI | 16 Dec 2025 | $414M | Deal announced | — | — |
| Churchill Capital Corp X/Cayman | 15 May 2025 | $414M | Completed | Infleqtion, Inc. (INFQ) | 9 |
| Churchill Capital Corp IX/Cayman | 1 May 2024 | $288M | Liquidated | Trust liquidated | 27 |
| Churchill Capital Corp VI | 11 Feb 2021 | $552M | Liquidated | Trust liquidated | 34 |
| Churchill Capital Corp VII This SPAC | 11 Feb 2021 | $1.4B | Liquidated | Trust liquidated | 42 |
| Churchill Capital Corp VIPO before 2021 | 15 Dec 2020 | $500M | Liquidated | Trust liquidated | 34 |
| Churchill Capital Corp IVIPO before 2021 | 30 Jul 2020 | $2.1B | Completed | Lucid Group, Inc. (LCID) | 12 |
| Churchill Capital Corp IIIIPO before 2021 | 13 Feb 2020 | $1.1B | Completed | MultiPlan Corporation (MPLN) | 8 |
| Churchill Capital Corp IIIPO before 2021 | 26 Jun 2019 | $690M | Completed | Skillsoft Corp. (SKIL) | 24 |
Months: from the IPO to the merger’s closing or the liquidation. SPACs are grouped by sponsor when their names, or their sponsor entities, match once the legal form and series numeral are taken off.
Peers
Other 2021 SPAC IPOs with BofA Securities, Inc. as bookrunner.
| SPAC | IPO | Raised | Unit | Status |
|---|---|---|---|---|
| Revelstone Capital Acquisition Corp. | 16 Dec 2021 | $165M | 1 sh + ½ warrant | Liquidated |
| Swiftmerge Acquisition Corp. | 14 Dec 2021 | $225M | 1 sh + ½ warrant | Completed |
| Power & Digital Infrastructure Acquisition II Corp. | 9 Dec 2021 | $288M | 1 sh + ½ warrant | Completed |
| Southport Acquisition Corp | 9 Dec 2021 | $230M | 1 sh + ½ warrant | Completed |
| Jackson Acquisition Co | 8 Dec 2021 | $223M | 1 sh + ½ warrant | Searching |
Sources
- PFinal prospectus: 0001104659-21-023032
- 1Gross proceeds: 0001104659-21-024852
The Units were sold at a price of $10.00 per unit, generating gross proceeds to the Company of $1,380,000,000.
- 2Units sold: 0001104659-21-024852
consummated its initial public offering (the “IPO”) of 138,000,000 units (the “Units”), including the issuance of 18,000,000 Units as a result of the underwriters’ full exercise of their over-allotment option.
- 3Trust raised: 0001104659-21-024852
A total of $1,380,000,000 was placed in a U.S.-based trust account with Continental Stock Transfer & Trust Company, acting as trustee.
- 4Trust per unit: 0001104659-21-023032
$1.2 billion, or $1.38 billion if the underwriters’ option to purchase additional units is exercised in full ($10.00 per unit in either case), will be deposited into a U.S.-based trust account
- 5Unit composition: 0001104659-21-023032
Each unit has an offering price of $10.00 and consists of one share of our Class A common stock and one-fifth of one redeemable warrant.
- 6Months to complete: 0001104659-21-023032
The completion window ends 24 months from the closing of this offering, or 27 months from the closing of this offering if we have executed a letter of intent, agreement in principle or definitive agreement
Each quote is found word for word in the filing it cites. Where a figure here differs from the filing, the filing prevails.
How the figures are compiled
- Which IPOs. Every final IPO prospectus (Form 424B4 or 424B1, or a 424B3 when it is the first prospectus filed on an S-1 or F-1 registration within 10 days of it going effective) filed on SEC EDGAR from the history start, by a registrant whose SIC code was 6770 (blank checks) on the filing date. Offerings that are not exchange-listed SPAC IPOs are excluded when the prospectus is read. The window starts on 1 January 2021.
- Dated by. The date of the final prospectus.
- Raised. Units sold to the public, including over-allotment units, times the unit price, as stated in the SPAC's 8-K reports after the IPO.
- Trust. The trust held for public shareholders after the IPO and any over-allotment: trust per unit times public units, as stated in the SPAC's filings. Cash deposited in trust and then moved out as working capital is not counted.
- Bookrunners. Firms the prospectus names as book-running managers; where it names none, the firm it names as sole underwriter or representative of the underwriters. Only the prospectus's own wording counts, not later 8-K reports. Each IPO's gross proceeds are split equally among its bookrunners.
- Counsel and auditors. Issuer counsel and underwriters' counsel as named in the prospectus's Legal Matters section; the auditor as named in its Experts section. Each is credited with the IPO's full gross proceeds.
- Unit structure. What one unit consists of, as the prospectus states it: a share with warrants, with rights, with both, or a share alone (shares-only offerings sell no units). Warrants per unit is the fraction of a warrant in each unit; rights are measured as the fraction of a share they convert into per unit.
- Trust per unit. Dollars placed in the trust account for each unit sold to the public, as the prospectus states it.
- Time to complete. Months from the IPO closing that the SPAC has to complete its business combination before any extension, as the prospectus states it.
- Over-allotment. Whether the underwriters bought all, part or none of the over-allotment option, comparing units sold with the base offering and the option.
- Votes. Shareholder votes to extend a SPAC's deadline or to approve its business combination, as reported in its 8-Ks (Item 5.07), for the SPACs in the IPO statistics only: SPACs that priced before the history start are not included, so votes in the first years under-represent the market. Only redemptions actually paid count: votes on a proposal that failed, or an extension that was approved but never took effect, are left out (redemption requests lapse with them), and a merger vote counts only when the deal closed, and only the last merger vote before the closing, since merger redemptions are paid at closing. Liquidation votes are left out too, as every public share is redeemed by definition.
- Redemption rate. Public shares redeemed at a vote over public shares outstanding just before it. Shares redeemed are as an 8-K, or failing that the next 10-Q or 10-K, states them. Shares before are as a filing states them, or redeemed plus the shares left after, or carried from the IPO's public shares and earlier votes. The median is the typical vote; the weighted rate divides all shares redeemed by all shares before, the share of public money that left the trusts. A vote counts only when each of these figures is verified or accepted. Votes whose redemption count no filing states, after a search of the SPAC's and the combined company's filings, are counted as not disclosed rather than estimated.
- Outcomes. Where each SPAC stands as of the snapshot: completed (business combination closed), liquidated (trust returned and redeemed), deal pending (agreement signed, not closed) or searching (no agreement in force). Grouped by the year the SPAC priced its IPO. Awaiting review means its status is still being checked.
- Closings. Completed business combinations by year of closing. The sector is the SEC's industry code (SIC) of the combined company, grouped into broad sectors; months from IPO run from the prospectus date to the closing.
- Checking. A SPAC counts only when every required figure is verified (quote found verbatim in the filing and all cross-checks pass) or accepted by a named reviewer.
- Coverage. 1,077 of the 1,089 SPAC IPOs read are counted; 12 wait on a figure still under review and 11 filings were excluded as not exchange-listed SPAC IPOs.
Compiled from SEC filings with the assistance of AI · figures as of 3 November 2026
For information only. These figures are compiled from SEC filings with the assistance of AI. Although they are checked against those filings, they may contain errors or omissions and have not been audited; where they differ from the filings, the filings prevail. They are not an offer to sell, a solicitation of an offer to buy, or a recommendation of any security. Information about any SPAC is qualified in its entirety by its filings with the SEC, available at www.sec.gov.