NEW YORK, Aug. 17, 2020 /PRNewswire/ -- Churchill
Capital Corp III ("Churchill") (NYSE: CCXX), a public investment
vehicle, announced today that, in light of the pending business
combination announced on July 12,
2020 between Churchill and MultiPlan, Inc. ("MultiPlan" or
the "Company"), a leading value-added provider of data analytics
and technology-enabled end-to-end cost management solutions to the
U.S. healthcare industry, Churchill investors are invited to attend
MultiPlan's webcast/call to discuss its second quarter 2020 results
and receive an update on the pending business combination on
Tuesday, August 18, 2020 at
4:15 p.m. Eastern
Time.
MultiPlan will address a number of topics on the call, including
results for the second quarter of 2020, and its updated outlook for
2020 revenues and adjusted EBITDA. MultiPlan will also
reiterate comfort with the 2021 forecast for the Company.
In addition, MultiPlan management will provide its latest views
on the U.S. healthcare market, the regulatory landscape and
MultiPlan's strong position as it relates to such
matters.
Churchill has a high degree of certainty around closing the
transaction based on the PIPE subscription agreements,
non-redemption agreements and voting agreements entered into at the
announcement of the transaction, and expects to meet all conditions
to close by the end of October
2020.
Webcast/ Call Information
Investors interested in accessing the live webcast can sign in
by clicking on the event link
https://event.on24.com/wcc/r/2593256/3884101533588E5B29FBF21A37613D63.
A telephonic replay of the call can be accessed through
September 1, 2020 by dialing (800)
585-8367 from the U.S., or (404) 537-3406 from outside the U.S. The
conference call I.D. number is 8891177.
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. The
Company raised $1.1 billion of cash
proceeds in an initial public offering in February 2020. Churchill's first public equity
investment company, 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
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.
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 include estimated financial information.
Such forward looking statements with respect to revenues, earnings,
performance, strategies, prospects and other aspects of the
businesses of Churchill, MultiPlan or the combined company after
completion of the proposed business combination 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.
Actual events or results may differ materially from those
discussed in forward-looking statements as a result of various
risks and uncertainties, including: the occurrence of any event,
change or other circumstances that could give rise to the
termination of the merger agreement; the inability to complete the
transactions contemplated by the merger agreement due to the
failure to obtain approval of the stockholders of Churchill or
other conditions to closing in the merger agreement; the ability to
meet applicable listing standards following the consummation of the
transactions contemplated by the merger agreement; the risk that
the proposed transaction disrupts current plans and operations of
MultiPlan as a result of the announcement and consummation of the
transactions contemplated by the merger agreement; the ability to
recognize the anticipated benefits of the proposed business
combination, which may be affected by, among other things,
competition, the ability of the combined company to grow and manage
growth profitably, maintain relationships with customers and
suppliers and retain its management and key employees; costs
related to the proposed business combination; changes in applicable
laws or regulations; the possibility that Churchill, MultiPlan or
the combined company may be adversely affected by other political,
economic, business, and/or competitive factors; the impact of
COVID-19 and its related effects on Churchill, MultiPlan or the
combined company's projected results of operations, financial
performance or other financial metrics; the ability to achieve the
goals of MultiPlan's enhance / extend / expand strategy and
recognize the anticipated strategic, operational, growth and
efficiency benefits when expected; pending or potential litigation
associated with the proposed business combination; and other risks
and uncertainties indicated from time to time in the preliminary
proxy statement filed with the Securities and Exchange Commission
("SEC") on July 31, 2020, including
those under "Risk Factors" therein, and other documents filed or to
be filed with SEC by Churchill. Forward-looking statements speak
only as of the date made and, except as required by law, Churchill
and MultiPlan undertake no obligation to update or revise these
forward-looking statements, whether as a result of new information,
future events or otherwise. Anyone using the presentation does so
at their own risk and no responsibility is accepted for any losses
which may result from such use directly or indirectly. Investors
should carry out their own due diligence in connection with the
assumptions contained herein. The forward-looking statements in
this communication speak as of the date of this communication.
Although Churchill 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.
For additional information regarding these and other risks faced by
us, refer to our public filings with the SEC, available on the
SEC's website at www.sec.gov.
Additional Information and Where to Find It
In connection with the proposed transactions, Churchill filed a
preliminary proxy statement with the SEC on July 31, 2020. Churchill intends to file other
relevant material, including a definitive proxy statement with the
SEC. Stockholders are urged to read the preliminary proxy
statement, as well as the definitive proxy statement when it
becomes available, and any other documents filed with the SEC in
connection with the proposed business combination or incorporated
by reference in the preliminary proxy statement or 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 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.
The directors, executive officers and certain other members of
management and employees of Churchill may be deemed "participants"
in the solicitation of proxies from stockholders of Churchill in
favor of the proposed business combination. Information regarding
the persons who may, under the rules of the SEC, be considered
participants in the solicitation of the stockholders of Churchill
in connection with the proposed business combination is set forth
in the preliminary proxy statement and will be set forth in the
definitive proxy statement and the other relevant documents to be
filed with the SEC. You can find information about Churchill's
executive officers and directors in Churchill's filings with the
SEC, including Churchill's final prospectus for its initial public
offering.
Contacts:
|
Media
Inquiries:
|
Steven Lipin or
Felipe Ucros, Gladstone Place Partners, 212-230-5930
|
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SOURCE Churchill Capital Corp III