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Michael Klein-backed SPACs raise $1.68 billion in initial public offerings

Churchill Capital Corp VI raised $480 million after upsizing their offer from $400 million, while Churchill Capital Corp VII garnered $1.2 billion, raising from $1 billion

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Blank-check firms are shell companies, also known as special purpose acquisition companies (SPACs)

Reuters
Two blank-check firms, led by veteran Wall Street dealmaker Michael Klein, collectively raised $1.68 billion in initial public offerings, their regulatory filings showed on Friday.
 
Churchill Capital Corp VI raised $480 million after upsizing their offer from $400 million, while Churchill Capital Corp VII garnered $1.2 billion, raising from $1 billion.
 
Blank-check firms are shell companies, also known as special purpose acquisition companies (SPACs). They use capital raised through a public offer to buy a private firm, typically within two years, in a deal that takes the private firm public.
 
Investors are not told in advance which company the SPAC