Churchill Capital Corp VI (NYSE:CCVI) and Churchill Capital Corp VII (NYSE:CVII) announced this afternoon that both companies have signed non-binding letters of intent (LOI) with unnamed targets.
Both SPACs did not disclose any information on the targets but noted that the private companies meet their investment criteria.
What makes today’s announcements interesting is that it just so happens to fall on the day that both SPACs were set to expire with a completion deadline of February 17. Having a signed LOI in hand means that both Churchill Capital VI and VII will now receive an automatic three-month extension. The companies now have until May 17 to complete their business combinations.
Churchill VI announced the pricing of its $480 million IPO in February 2021 and aims to combine with a business that generates stable free cash flow. Churchill VII announced the pricing of its IPO on the same day, but raised $1.2 billion in proceeds. The company hopes to combine with a business that has a capable management team that could benefit from the SPAC’s expertise. Both SPACs are led by CEO, President and Chairman Michael Klein alongside CFO Jay Taragin.
Since both announcements are just at the LOI stage, the SPACs will remain in SPACInsider’s “Searching” category until a definitive agreement is signed.


At the SPAC of Dawn The SPAC market has been feeling considerable wind under its sails since the cycle reset last summer, but that does not mean it is smooth sailing for all portions of the process. All three SPACs that held votes yesterday wound up adjourning or postponing them, suggesting that getting through a...
Columbus Circle I (NASDAQ:CCCM) has entered into a definitive agreement to combine with ProCap Financial as part of a raise of about $1 billion in capital for the target company. ProCap aims to build a Bitcoin treasury that will eventually provide the backing for a financial institution providing investment banking services. The combined company is...
At the SPAC of Dawn SPACs have a busy week of votes ahead of them with six special meetings to approve extensions and three to complete business combinations. JVSPAC (NASDAQ:JVSA) is set to kick off the run of deal votes tomorrow as it seeks approval to tie things up with Southeast Asian hospitality chain Hotel101....
Terms Tracker for the Week Ending June 20, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Two more SPACs priced IPOs this week, one each from Cohen and Cantor. That brings June’s IPO count to five and the 2025 year-to-date tally...
CSLM Digital Asset (NASDAQ:KOYNU) has filed for a $200 million IPO to hunt for a crypto transaction with a team that includes veterans from a variety of other SPAC efforts. The new SPAC sports 1/2 warrants in units and will have 24 months to initially close a business combination. It becomes the 16th SPAC that...