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NEW YORK, Oct. 2, 2020 /PRNewswire/ --Churchill Capital Corp III ("Churchill III") (NYSE:CCXX), a public investment vehicle, today confirmed the special meeting of stockholders to approve the pending combination with Polaris Parent Corp., the parent of MultiPlan, Inc ("MultiPlan"), will be held at 10:00 a.m. Eastern Time on October 7, 2020 via live webcast. The proxy statement is available in the Investor Resources section of Churchill III's website as well as on www.sec.gov.
The consummation of the business combination is currently expected to occur on October 8, 2020, the day immediately following the special meeting of stockholders, subject to final stockholder approval and satisfaction of other customary conditions.
As previously disclosed, Churchill III stockholders, representing approximately 41% of the outstanding common stock of Churchill III, have agreed to vote FOR the business combination proposal with MultiPlan as well as the other proposals set forth in the proxy statement. In addition, as previously disclosed, an affiliate of MultiPlan owns approximately 6.6% of the outstanding shares of Churchill III's common stock and has agreed to vote such shares FOR the business combination in the same proportion as the votes cast by other Churchill III stockholders FOR the business combination relative to all votes actually cast by other Churchill III stockholders with respect to such proposal.
Further, Churchill III has received commitments from existing investors and new PIPE investors for funding and non-redemptions of approximately $2.9 billion in the aggregate, which is more than sufficient to satisfy the closing cash condition.
Holders of Churchill III's common stock as of the close of business on September 14, 2020 are entitled to vote at the special meeting. The Churchill III Board of Directors unanimously recommends that stockholders vote "FOR" the business combination proposal with MultiPlan as well as the other proposals set forth in the proxy statement.
Posted In: CCXX
