NEW YORK, Oct. 7, 2020 /PRNewswire/ -- Churchill Capital
Corp III ("Churchill III") (NYSE: CCXX), a public investment
vehicle, announced that in a special meeting held today, its
stockholders voted to approve its combination with Polaris Parent
Corp., the parent of MultiPlan, Inc. ("MultiPlan"), a leading
value-added provider of data analytics and technology-enabled
end-to-end cost management solutions to the U.S. healthcare
industry, and related matters. Approximately 93% of the
votes cast at the meeting, representing approximately 76% of
Churchill III's outstanding shares, voted to approve the business
combination.
The consummation of the business combination is currently
expected to occur on or about October 8,
2020, subject to the satisfaction or waiver of applicable
closing conditions. The combined company will be renamed MultiPlan
Corporation, and it is anticipated that on October 9, 2020, the ticker symbol of its Class A
common shares, which are listed on the New York Stock Exchange,
will be changed to "MPLN".
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 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
About MultiPlan
MultiPlan is committed to helping healthcare payors manage the
cost of care, improve their competitiveness and inspire positive
change. Leveraging sophisticated technology, data analytics, and a
team rich with industry experience, MultiPlan interprets clients'
needs and customizes innovative solutions that combine its payment
integrity, network-based and analytics-based services. MultiPlan is
a trusted partner to over 700 healthcare payors in the commercial
health, dental, government and property and casualty markets.
MultiPlan is owned by Hellman & Friedman and other investors.
For more information, visit multiplan.com.
This press release 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, including those related to the date of
closing of the business combination, our ability to execute our
strategic plan, are based on current expectations that are subject
to known and unknown risks and uncertainties. Investors are
encouraged to review the other risks and uncertainties indicated in
the definitive proxy statement filed in connection with the
business combination, including those under "Risk Factors" therein,
and other documents filed or to be filed with the Securities and
Exchange Commission by Churchill III or MultiPlan. Investors are
cautioned not to place undue reliance upon any forward-looking
statements. The forward-looking statements in this press release
speak as of the date of this press release. Although Churchill III
and MultiPlan may from time to time voluntarily update their
respective prior forward-looking statements, each disclaims any
commitment to do so whether as a result of new information, future
events, changes in assumptions or otherwise except as required by
applicable securities laws.
Churchill III Contacts:
Media: Steven Lipin or Felipe
Ucros. Gladstone Place Partners, 212-230-5930
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SOURCE Churchill Capital Corp III
