Churchill Capital Corp XIII has priced its upsized initial public offering of 36,000,000 units at $10.00 per unit, generating gross proceeds of $360 million. The transaction marks the market debut for the special purpose acquisition company (SPAC) founded by Michael Klein, who also serves as founder and managing partner of M. Klein and Company, LLC. The capital raised is designated for effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in any industry.

The units will be listed on the Nasdaq Global Market under the symbol "XIIIU" commencing July 30, 2026. Each unit comprises one Class A ordinary share of Churchill Capital Corp XIII and one-tenth of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares are expected to trade under the symbol "XIII" and the warrants under "XIIIW."

Citigroup is acting as the sole book-running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 5,400,000 units at the initial public offering price to cover over-allotments, if any. This over-allotment option could increase the total proceeds from the offering by up to $54 million if fully exercised.

The offering is expected to close on August 3, 2026, subject to customary closing conditions. A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (SEC). Copies of the prospectus may be obtained from Citigroup or accessed via the SEC’s website at www.sec.gov .

Offering Details

What the Numbers Show

The pricing at $10.00 per unit aligns with standard SPAC IPO pricing conventions, providing a baseline valuation for the trust account that will hold the net proceeds until a target business combination is identified. The inclusion of a 45-day over-allotment option for up to 5,400,000 additional units signals potential investor demand beyond the initial offering size, allowing Churchill Capital Corp XIII to raise up to $414 million in total if the option is fully exercised. The warrant structure, granting one-tenth of a warrant per unit with an $11.50 exercise price, offers investors leveraged exposure to the future equity value of the combined entity post-business combination.