Churchill Capital Corp XI completes $414M IPO and $5M private placement

Churchill Capital Corp XI

IPO of 41,400,000 units at $10.00/unit raises $414M gross; includes full exercise of over-allotment.
Private placement of 500,000 units to Churchill Sponsor XI LLC raises additional $5M.
$414M placed in trust account; $750,457 cash outside trust for working capital.
Transaction costs total $19.6M: $3M cash underwriting fee and $16M deferred underwriting fee.
Company has no operations; must complete a business combination within 24 months (27 if definitive agreement).

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