Monitor for the announcement of a business combination target. This working capital injection extends CCXI's runway and signals sponsor commitment to finding a deal, but does not change the fundamental binary outcome (deal vs. liquidation).
Price Chart
Executive Summary
Churchill Capital Corp XI (CCXI), a SPAC, has entered into a promissory note with its sponsor for up to $1.5 million for working capital. The non-interest-bearing note matures upon the earlier of a business combination or liquidation and is convertible into units at $10.00 per unit. This is a routine SPAC working capital facility, indicating the sponsor is providing bridge funding to extend the search for a deal and avoid liquidation.
Key Facts
- CCXI issued an unsecured promissory note to sponsor Churchill Sponsor XI LLC for up to $1,500,000.
- The note bears no interest and matures upon the earlier of an initial business combination or liquidation.
- Sponsor can convert outstanding principal into units at $10.00 per unit, each unit consisting of one Class A share and one-tenth of a warrant.
- Conversion units are identical to private placement units from the IPO and carry registration rights.
- Funds are designated for working capital needs and sponsor waives any claim against the trust account.
Financial Impact
Up to $1.5 million in additional working capital via a convertible promissory note from the sponsor
Risk Factors
- If no business combination is completed, the note will be repaid upon liquidation, reducing proceeds available to public shareholders.
- Conversion of the note into units would cause dilution to existing public shareholders.
- SPACs face an elevated risk of liquidation if they fail to find a target within their limited timeframe.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-086928 |
| Document: ea030119601ex10-1.htm | 0001213900-26-086928 |
| Document: 0001213900-26-086928-index-headers.html | 0001213900-26-086928 |
| Document: 0001213900-26-086928-index.html | 0001213900-26-086928 |
| Document: 0001213900-26-086928.txt | 0001213900-26-086928 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 425 | $10.25 | awaiting T+1 | — | $10.24 (−0.05%) |
Oct 22, 2026 4d ago | 425 | $10.26 $10.25 | ▼ −0.10% | ▼ −0.81% | $10.24 (−0.15%) |
Oct 22, 2026 5d ago | 425 | $10.27 $10.26 | ▼ −0.10% | ▲ +0.42% | $10.24 (−0.24%) |
Oct 20, 2026 6d ago | 425 | $10.35 $10.27 | ▼ −0.77% | ▲ +0.41% | $10.24 (−1.01%) |
Oct 20, 2026 6d ago | 425 | $10.35 $10.27 | ▼ −0.77% | ▲ +0.41% | $10.24 (−1.01%) |
Oct 19, 2026 7d ago | 425 | $10.36 $10.35 | ▼ −0.05% | ▼ −0.57% | $10.24 (−1.06%) |
Oct 14, 2026 13d ago | EFFECT | $10.83 $11.35 | ▲ +4.80% | ▲ +4.52% | $10.24 (−5.40%) |
Oct 13, 2026 13d ago | 425 | $10.83 $11.35 | ▲ +4.80% | ▲ +4.52% | $10.24 (−5.40%) |
Oct 13, 2026 13d ago | 8-K | $10.83 $11.35 | ▲ +4.80% | ▲ +4.52% | $10.24 (−5.40%) |
Oct 8, 2026 18d ago | 425 | $10.93 $10.78 | ▼ −1.37% | ▼ −1.31% | $10.24 (−6.27%) |
US Market Status
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