The boards of special purpose acquisition corporation Churchill Capital Corp. and Clarivate Analytics (US) LLC approved the two companies' merger, which has an implied initial enterprise value of approximately $4.2 billion.

A majority of net proceeds from the deal are expected to be used to pay Clarivate Analytics' debt and for working capital and general corporate purposes.

Clarivate Analytics, an information services company serving the scientific research and intellectual property markets, intends to list its ordinary shares and warrants in the NYSE under the proposed symbols CCC and CCC WS, respectively.