NEW YORK, Oct. 5, 2020 /PRNewswire/ -- Churchill Capital
Corp III ("Churchill III") (NYSE: CCXX), a public investment
vehicle, today made the following statement:
M. Klein & Company LLC ("MKC"), an affiliate of Churchill
III's sponsor, or one or more affiliates of MKC intends to acquire
an additional $50 million of
Churchill III's outstanding shares, either through purchases on the
open market or through privately negotiated transactions as
appropriate. MKC believes Churchill III's shares currently are
undervalued and do not reflect the future opportunity of the
company. The timing and actual numbers of shares purchased
will depend on a variety of factors, including price and other
market conditions. Any such purchases will be conducted in
accordance with applicable legal requirements. Further, any such
shares will not be subject to any transfer restrictions or vesting
requirements (except pursuant to applicable law). While MKC
(or its affiliate) currently intends to acquire such shares, it is
under no obligation to do so.
About Churchill Capital Corp III
Churchill Capital Corp III is a public investment vehicle formed
for the purpose of effecting a merger, acquisition, or similar
business combination. Churchill III was founded by a group of
leading current and former business and financial leaders.
Churchill III's securities are traded on the New York Stock
Exchange under ticker symbols CCXX, CCXX.WS and CCXX.U. Churchill
III raised $1.1 billion of cash
proceeds in an initial public offering in February 2020. The first public equity investment
company by Churchill III's sponsor, Churchill Capital Corp, led by
Jerre Stead, merged with Clarivate
Analytics, a leading provider of comprehensive intellectual
property and scientific information, analytical tools, and services
in May 2019. Churchill Capital Corp
II and Churchill Capital Corp IV are actively pursuing initial
business combination targets in any business or industry. For more
information, visit iii.churchillcapitalcorp.com
Forward-Looking Statements
This communication includes "forward looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Terms such as
"anticipate," "believe," "will," "continue," "could," "estimate,"
"expect," "intend," "may," "might," "plan," "possible,"
"potential," "predict," "should," "would," or similar expressions
may identify forward-looking statements, but the absence of these
words does not mean the statement is not forward-looking. Such
forward looking statements are based on current expectations that
are subject to known and unknown risks and uncertainties, which
could cause actual results or outcomes to differ materially from
expectations expressed or implied by such forward looking
statements. Investors are also encouraged to review the risks and
uncertainties indicated in the definitive proxy statement filed
with SEC on September 18, 2020,
including those under "Risk Factors" therein, and other documents
filed or to be filed in connection with the business combination
with SEC by Churchill III. Forward-looking statements speak only as
of the date made and, except as required by law, Churchill III and
MultiPlan undertake no obligation to update or revise these
forward-looking statements, whether as a result of new information,
future events or otherwise. The forward-looking statements in this
communication speak as of the date of this communication. Although
Churchill III may from time to time voluntarily update its prior
forward-looking statements, it disclaims any commitment to do so
whether as a result of new information, future events, changes in
assumptions or otherwise except as required by securities laws.
No Offer or Solicitation
This communication is for informational purposes only and is not
intended to and does not constitute, or form part of, an offer,
invitation or the solicitation of an offer or invitation to
purchase, otherwise acquire, subscribe for, sell or otherwise
dispose of any securities, or the solicitation of any vote or
approval in any jurisdiction, pursuant to the proposed transactions
or otherwise, nor shall there be any sale, issuance or transfer of
any securities in any jurisdiction in contravention of applicable
law. In particular, this communication is not an offer of
securities for sale into the United
States. No offer of securities shall be made in the United States absent registration under
the U.S. Securities Act of 1933, as amended, or pursuant to an
exemption from, or in a transaction not subject to, such
registration requirements.
Additional Information and Where to Find It
In connection with the proposed transactions, Churchill III
filed a definitive proxy statement with the SEC on September 18, 2020. Stockholders are urged to
read the definitive proxy statement and any other documents filed
with the SEC in connection with the proposed business combination
or incorporated by reference in the definitive proxy statement
because they will contain important information about the proposed
business combination.
Investors will be able to obtain free of charge the proxy
statement and other documents filed with the SEC at the SEC's
website at http://www.sec.gov. Copies of the documents filed
with the SEC by Churchill III when and if available, can be
obtained free of charge by directing a written request to Churchill
Capital Corp III, 640 Fifth Avenue, 12th Floor, New York, NY 10019.
Media Contacts
Churchill Capital Corp III:
Steven Lipin or Felipe Ucros at Gladstone Place Partners
212-230-5930
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SOURCE M. Klein & Company