Churchill Capital Corp. VI CCIV.U,
said on Friday it had raised its initial public offering to 48 million units from a previous 46 million plan, with the shares due to start trading on Friday on the New York Stock Exchange under the symbol ‘CCVI.U . ‘ The special-purpose acquisition company, or SPAC, is the latest by former Citigroup Inc. banker Michael Klein. SPACs, or blank check companies, are those that raise money on an IPO and have two years to acquire one or more businesses. It became a popular way to go public during the pandemic and raised a record $ 82 billion in revenue in 2020, according to data from Dealogic. Churchill Capital Corp IV of Klein, CCIV,
SPAC has been the subject of speculation that it may acquire electric vehicle maker Lucid Motors, but the company declined to comment.
