Churchill Capital Corp. VI CCIV.U,
said Friday that it has increased its initial public offering to 48 million units from an earlier plan to offer 46 million, with the shares expected to start trading Friday on the New York Stock Exchange under the ticker symbol ‘CCVI.U. . ‘ The Special Acquisition Company, or SPAC, is the latest of the ex-banker of Citigroup Inc. Michael Klein. SPACs, or blank check companies, are the ones who raise money in an IPO and then have two years to acquire a company or companies. It has become a popular way to go public during the pandemic, raising record revenues of $ 82 billion in 2020 according to data from Dealogic. Klein’s Churchill Capital Corp.IV CCIV,
SPAC has been the subject of speculation that it could acquire electric vehicle manufacturer Lucid Motors, but the company has declined to comment.