Churchill Ventures Ltd (AMEX:CHV)
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From Jul 2019 to Jul 2024
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Churchill Ventures Ltd. (AMEX: CHV) announced today that in light of
market conditions it was suspending its business combination activity
and would commence the process of liquidating and distributing its trust
fund proceeds to its shareholders.
“Churchill’s founders have a stellar reputation for delivering value to
investors in our past activities, and we would rather close our doors
and return our investors’ capital than pursue a business combination in
these market conditions,” said Christopher Bogart, Churchill’s Chief
Executive Officer. “SPACs like Churchill rely on the availability of
leverage and the receptivity of institutional equity investors, neither
of which is present in capital markets today. Churchill’s founders will
lose money personally by taking this decision – and our shareholders
will actually turn a profit on their investment in Churchill – but we
believe strongly that it is the right thing to do rather than bringing a
questionable transaction to the market,” Bogart added.
Churchill does, however, reserve the right to terminate the liquidation
process and proceed with a transaction if a suitable transaction comes
to its attention before the liquidation occurs.