Churchill Capital Corp XIII Completes IPO, Raises $414M

What Happened

• Churchill Capital Corp XIII announced on August 3, 2026 that it consummated its initial public offering of 41,400,000 units (including a full 5,400,000-unit over-allotment exercise) at $10.00 per unit, generating gross IPO proceeds of $414,000,000.
• Each Unit consists of one Class A ordinary share and one-tenth of one redeemable warrant; each whole warrant is exercisable to purchase one Class A ordinary share at $11.50.
• Simultaneously, the company completed a private placement of 350,000 units to its sponsor, Churchill Sponsor XIII LLC, for $3,500,000. A total of $414,000,000 (comprised of $412,500,000 of net IPO proceeds — which includes up to $15,490,000 of the underwriter’s deferred discount — and $1,500,000 of private placement proceeds) was placed in a U.S.-based trust account. The company filed an audited balance sheet as of August 3, 2026 (Exhibit 99.1).

Key Details

• 41,400,000 Units sold at $10.00 per Unit; 5,400,000 Units from full exercise of over-allotment.
• Private placement: 350,000 units to sponsor for $3,500,000.
• Units = 1 Class A ordinary share + 0.1 redeemable warrant; Warrant exercise price = $11.50 per share.
• $414,000,000 placed in a U.S.-based trust account; audited balance sheet included as Exhibit 99.1.

Why It Matters

• The filing confirms the SPAC has completed its public fundraising and the cash proceeds are secured in a trust account, which is the pool typically used to finance a future business combination.
• The unit structure (shares plus warrants) and sponsor/private placement activity are important for investors to track because they affect potential dilution and the capital available for a target deal.
• The audited balance sheet provides a formal record that proceeds were received and placed in trust, giving investors documented financial confirmation of the IPO closing.