---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-061436"
form_type: "8-K"
ticker: null
cik: "0001828248"
company_name: "Churchill Capital Corp VII"
filed_at: "2023-05-16T23:59:59+00:00"
generated_at: "2026-06-15T00:00:02.713661+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Churchill Capital Corp VII loses ~$816M in redemptions, extends deadline to Feb 2024

## Summary
- Holders redeemed 79.98M shares at ~$10.21/share, total ~$816.28M removed from trust.
- After redemptions, 58M shares remain; trust holds ~$592M before sponsor contributions.
- Charter extended from May 17, 2023 to February 17, 2024 for business combination.
- Sponsor commits up to $9M via monthly $1M deposits into trust starting May 17, 2023.

## SEC filing metadata
- accession: 0001104659-23-061436
- form_type: 8-K
- cik: 0001828248
- company_name: Churchill Capital Corp VII
- filed_at: 2023-05-16T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828248/000110465923061436/0001104659-23-061436-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828248/000110465923061436/tm2315840d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-061436
- JSON: https://secwatch.observer/filing/0001104659-23-061436.json
- Plain text: https://secwatch.observer/filing/0001104659-23-061436.txt

## Key facts
- Debt Financings
  Churchill Capital Corp VII incurred loan with Churchill Sponsor VII LLC at non-interest bearing maturing the earlier of (1) the date the Company consummates the Business Combination and (2) the date that the winding up of the Company is effective.
  - Instrument: loan
  - Counterparty: Churchill Sponsor VII LLC
  - Rate: non-interest bearing
  - Maturity: the earlier of (1) the date the Company consummates the Business Combination and (2) the date that the winding up of the Company is effective
  - Event: incurrence
  source text: Such Contributions will be made pursuant to a non-interest bearing, unsecured promissory note (the “Promissory Note”), which was issued by the Company to the Sponsor on May 16, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828248/000110465923061436/0001104659-23-061436-index.htm
- Governance Changes
  Churchill Capital Corp VII: Extended deadline to consummate initial business combination from May 17, 2023 to February 17, 2024 (effective 2023-05-16).
  - Change: charter amendment
  - Effective: 2023-05-16
  source text: the Company filed the Charter Amendment with the Secretary of State of the State of Delaware on May 16, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828248/000110465923061436/0001104659-23-061436-index.htm
- Material Agreements
  Churchill Capital Corp VII entered into Promissory Note with Churchill Sponsor VII LLC (effective 2023-05-16).
  - Action: entry
  - Counterparty: Churchill Sponsor VII LLC
  - Effective: 2023-05-16
  source text: Such Contributions will be made pursuant to a non-interest bearing, unsecured promissory note (the “Promissory Note”), which was issued by the Company to the Sponsor on May 16, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828248/000110465923061436/0001104659-23-061436-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.