Former Citigroup executive Klein launches another SPAC, Churchill Capital XIV (CXIVU.US) plans U.S. IPO to raise up to US$300 million

Churchill Capital XIV, a blank-check company (SPAC) founded by veteran Wall Street dealmaker and former Citigroup executive Michael Klein, filed with the U.S. Securities and Exchange Commission (SEC) on Wednesday to raise up to US$300 million through an initial public offering (IPO). The company plans to offer 30 million units at US$10 per unit to raise US$300 million. Each unit consists of one share of common stock and one-tenth of a warrant, with warrants exercisable at US$11.50 per share. The company is led by CEO and Chairman Michael Klein. Klein is the founder and managing partner of strategic advisory firm M. Klein and Company, and previously held various positions at Citigroup and Salomon Smith Barney. Jay Taragin serves as the company's Chief Financial Officer; he is also CFO of M. Klein and Company. The SPAC did not disclose a target industry. The company plans to target businesses with characteristics including recurring revenue, the ability to generate stable free cash flow, potential to grow through acquisitions, targets sourced through Churchill's proprietary channels, and a focused and capable management team. Klein's recent SPAC projects include: Churchill Capital XIII (XIIIU), which listed in July 2026; Churchill Capital XII (CXIIU), which listed in April 2026; Churchill Capital XI (CCXI), which listed in December 2025 and is expected to complete its merger this week with humanoid robot and automation developer Agility Robotics; Churchill Capital X, which completed its merger with quantum computer developer Infleqtion (INFQ.US) in February of this year; Churchill Capital Corp IX (CCIX.US), which listed in 2024 and terminated its proposed merger with PlusAI in April 2026; and Churchill Capital Corp VII (CVII.US), Churchill Capital VI (CCVI.U) and Churchill Capital V (CCV.U), all three of which have been liquidated. Other past SPAC projects include: AltC Acquisition, which completed its merger with SMR developer Oklo (OKLO.US) in 2024; Churchill Capital Corp IV, which completed its merger with electric vehicle manufacturer Lucid (LCID.US) in 2021; and Churchill Capital Corp III, which completed its merger with healthcare services provider MultiPlan (now Claritev, ticker CTEV) in 2020. Churchill Capital XIV is headquartered in New York, was founded in 2026, and plans to list on Nasdaq under the ticker symbol CXIVU. Citigroup is the sole bookrunner for the transaction.