Atlas CC Acquisition Corp

Atlas CC Acquisition Corp. is a Delaware-based special purpose acquisition company (SPAC) formed to facilitate the privatization of Cubic Corporation. In a transaction that completed on May 25, 2021, Atlas CC Acquisition Corp. merged with Cubic Corporation, a technology and services provider for transportation and defense markets. This strategic acquisition was orchestrated by investment funds affiliated with Veritas Capital Fund Management, L.L.C. and Evergreen Coast Capital Corp., an affiliate of Elliott Investment Management L.P. The merger agreement was initially signed on February 7, 2021, and subsequently amended to increase the offer price before its finalization.

As a holding company, Atlas CC Acquisition Corp. was the legal entity used to purchase all outstanding shares of Cubic, effectively taking the company private and delisting it from the New York Stock Exchange. The transaction involved multiple layers of holding companies, with Atlas CC Acquisition Corp. itself being a wholly-owned subsidiary of Atlas CC Holding LLC, which is ultimately controlled by the private equity sponsors. The acquisition included all of Cubic's business segments, such as GATR Technologies, Inc., a subsidiary specializing in satellite communications technology. The entity's sole purpose was to execute this merger and it does not have independent operations.

Keywords: special purpose acquisition company, SPAC, privatization, holding company, merger, acquisition, corporate transaction, Cubic Corporation, Veritas Capital, Evergreen Coast Capital, Elliott Investment Management, defense technology, transportation services, delisting, private equity, leveraged buyout