Spacs present issuers with solid IPO alternative after Multiplan deal

new_york_stock_exchange_adobe_575x375.jpg
By Sam Kerr
13 Jul 2020

A merger between Churchill Capital Corp III, an investment vehicle run by former Citi banker Mark Klein, and Multiplan, a provider of healthcare services, is the latest evidence that special purpose acquisition companies (Spacs) are now being seen as a credible alternative to IPOs to take companies public.

As a result of the merger Multiplan will become a public company valued at $11bn. Churchill is also committing $3.7bn to the merger. The funds will be used to buy a stake in Multiplan’s owners as well as paying off some of its debts.

Churchill will contribute ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial