Churchill Capital Corp VII stockholders approve extension of initial combination

Churchill Capital Corp VII’s stockholders voted to approve a proposal to amend Churchill VII’s certificate of incorporation and extend the date by which Churchill VII is required to consummate its initial business combination with CorpAcq Holdings from February 17 to August 17. All other proposals were also approved with support from Churchill VII’s stockholders. Churchill VII’s stockholders decided to retain their shares of Churchill VII class A common stock. After taking into account the redemptions of Churchill VII’s stockholders in connection with the Special Meeting, Churchill VII has in excess of $605M remaining in its trust account. This amount is currently in excess of the required available cash at the closing of the Business Combination. CorpAcq’s Business Combination with Churchill VII is expected to be completed in early 2024. Upon closing of the Business Combination, CorpAcq Group Plc will be a publicly-traded corporate compounder with a portfolio of 42 businesses.