CCXIU

Churchill Capital Corp XI [CCXIU] represents units of a special purpose acquisition company (SPAC). Each unit typically consists of one share of Class A common stock and a fraction of a redeemable warrant. SPACs are shell companies that raise capital through an initial public offering with the purpose of acquiring or merging with an existing private company, thereby taking it public. Churchill Capital Corp XI was formed to identify and complete a business combination with a target company, primarily focusing on technology, media, and telecommunications sectors. The SPAC structure allows retail and institutional investors to participate in private equity-style transactions. Until a merger is completed, the proceeds from the IPO are held in a trust account. Investors can redeem their shares if they disagree with the proposed business combination.