CC Neuberger Principal Holdings II
PRPB · NYSE
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC from CC Neuberger Principal Holdings II Sponsor LLC, listed on NYSE in August 2020.
- What it's doing now
- It agreed to buy Getty Images, a Global visual content creator and marketplace company. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- Getty Images
- Industry
- Global visual content creator and marketplace
- Deal value
- not stated in the filings we hold
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 3 August 2020
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- C/O CC CAPITAL, NEW YORK, NY, 10166
- registered in the Cayman Islands
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- QUELLA JAMES (Director) · Chu Chinh (Chief Executive Officer) · Gear Jonathan (Director)
- Listed securities
- PRPB common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
What has happened, and what is coming
1 dated milestoneEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 3 August 2020IPOpassed
IPO size not on file
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- closedpost-close GETYSEC primary
The score
deterministic, from filed fieldsPRPB is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
CC Neuberger Principal Holdings II (SEC CIK 0001812667) was a blank-check company classified under SEC SIC industry code 6770 that traded on the New York Stock Exchange under the ticker PRPB. The company priced its initial public offering on August 3, 2020, per 424B prospectus 0001104659-20-089623, with unit terms including a 1/4 warrant, 10 in trust per unit, and a 12-month deadline. On July 20, 2022, the common ticker PRPB appeared on the cover page of 8-K 0001104659-22-080985. The company completed a business combination and closed, as established by Form 25 0000876661-22-000583 filed on July 25, 2022, under 17 CFR 240.12d2-2(a)(3), meaning its units, common stock, and warrants became the successor's. The successor registrant, Getty Images Holdings, Inc. (GETY) (CIK 0001898496), filed an 8-K carrying item 2.01 (Completion of Acquisition) to report the completion of the acquisition.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
The backstop is the structural feature that makes this deal redemption-proof: for every share redeemed, the backstop investor can subscribe at $10.00, so the transaction can close no matter how much trust cash leaves. That removes the usual leverage public holders have but also removes the risk that redemptions collapse the deal. At about $10.01 per share the redemption right returns essentially deposited value in cash, so holders choose between that and equity in a stock photography business carrying substantial debt.
The same balance sheet gives the redeemable block twice and disagrees with itself: the temporary-equity line says 79,511,321 shares and the permanent-equity line says 3,288,679 shares 'excluding 79,515,321 shares subject to possible redemption', 4,000 shares apart. 79,511,321 is the figure that reconciles to 82,800,000 Class A. Note also that Class B is 25,700,000 against 82,800,000 Class A - well above the usual 20% founder block. Trust figures are as of September 30, 2020.
The opening position as stated: $828,000,000 in trust against 82,800,000 public shares, with $18,560,000 of at-risk sponsor money alongside. Warrant coverage is a quarter warrant per unit, thin for 2020 and a smaller overhang for holders than the half-warrant structures of the same period. The private placement warrants keep the customary sponsor advantages only while held by the sponsor — non-redeemable, cashless exercise, registration rights, locked up until 30 days after a business combination.
A quarter of a warrant per unit means four units are needed for one exercisable warrant. The document also states TWO redemptions under their own headings - a $0.01 cash call once the Class A price reaches $18.00, and a second once it reaches only $10.00 on the single trading day before notice. And Neuberger Berman Opportunistic Capital Solutions Master Fund, a member of the sponsor, has a forward purchase agreement for up to $200,000,000 of units whose composition differs from the public unit: one share and THREE-SIXTEENTHS of a warrant.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
What changed: CC Neuberger Principal Holdings II called an EGM for July 19, 2022 at 9:00 a.m. Eastern at the offices of Kirkland & Ellis and virtually to approve its business combination with Griffey Global Holdings, known as Getty Images, under an agreement dated December 9, 2021. A forward purchase provides for up to 20,000,000 shares of New CCNB Class A common stock plus 3,750,000 warrants exercisable at $11.50, and a backstop allows subscription at $10.00 per share for an amount not exceeding the shares subject to redemption. Why it matters: The backstop is the structural feature that makes this deal redemption-proof: for every share redeemed, the backstop investor can subscribe at $10.00, so the transaction can close no matter how much trust cash leaves. That removes the usual leverage public holders have but also removes the risk that redemptions collapse the deal. At about $10.01 per share the redemption right returns essentially deposited value in cash, so holders choose between that and equity in a stock photography business carrying substantial debt.
minimum cash condition, outside datenothing moved · 2 with no prior record of ours
- Minimum cash condition
- no earlier filing$950.0M
- Outside date
- no earlier filing2022-07-24
SpacBrain reads this as the min-cash condition binds at $950,000,000.
The clause …“in such transaction exceeds any of the foregoing stock price targets), (v) a minimum cash condition of no less than $950 million, (vi) a post-closing incentive equity plan on customary terms for a public company in New CCNB’s industry,”…
SpacBrain reads this as the agreement may be terminated from 2022-07-24.
The clause …“Combination Agreement was automatically extended to July 24, 2022 and the Outside Date in the Business Combination Agreement shall in all cases refer to July 24, 2022. CCNB Board’s Reasons for the Approval of the Business”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2021-11-10trust $828.5M → $828.8M +0%
trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $828.5M$828.8M
- Combination deadline
- not previously extracted2022-08-04
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 82.8M · unchanged
SpacBrain reads this as $295,741 was added to the trust between the two filings.
The clause “2,417 243,042 Total current assets 422,130 533,339 Investments and cash held in Trust Account 828,823,235 828,616,552 Total Assets $ 829,245,365 $ 829,149,891 Liabilities and Shareholders’ Deficit ”…
The clause …“However, there can be no assurance that we will be able to consummate any business combination by August 4, 2022. We continue to evaluate the impact of the COVID-19 pandemic and has concluded that the specific impact is not readily”…
The clause …“subsequent dissolution as well as the Company's working capital deficit raise substantial doubt about the Company's ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities”…
The clause …“and Contingencies Class A ordinary shares, $ 0.0001 par value; 82,800,000 shares subject to possible redemption at $ 10.00 per share at March 31, 2022 and December 31, 2021, respectively 828,000,000 828,000,000 ”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
CC Neuberger Principal Holdings II Sponsor LLCnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1284 tracked SPACs (23%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
Unit: U = S + W/4 · 100.0% of the $10 unit
from 424B4 0001104659-20-089623
Trading & liquidity
Company profile
Directors & officers
- QUELLA JAMESDirector
- Chu ChinhChief Executive Officer
- Gear JonathanDirector
- Kantor CharlesDirector
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
3 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- CC Neuberger Principal Holdings II Sponsor LLC23.6% · SC 13G/AMar 1, 2022 stale
- GLAZER CAPITAL, LLCwith 1 other reporting person on the same schedule4.9% · SC 13G/AFeb 14, 2022 stale
- INTEGRATED CORE STRATEGIES (US) LLCwith 6 other reporting persons on the same schedule3.4% · SC 13G/AFeb 7, 2022 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
38 full SEC filing texts archived — searchable, never lost.
- Vault note — PRPB (CC Neuberger Principal Holdings II)
vault-note · /vault/tickers/PRPB
- Vault deal note — Getty Images (PRPB)
vault-note · /vault/deals/getty-images
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail5 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001104659-20-089623 priced 2020-08-03; common ticker PRPB off 8-K 0001104659-22-080985 (2022-07-20); lifecycle EXITED. Ending PROVEN, not inferred: CLOSED per Form 25 0000876661-22-000583 (2022-07-25) — Form 25 filed under 17 CFR 240.12d2-2(a)(3) — the rule for securities that "have come to evidence other securities in substitution therefor", i.e. the shares became the successor's (class: Units, Common Stock, and Warrants); the successor registrant Getty Images Holdings, Inc. (GETY) (CIK 0001898496) filed an 8-K carrying item 2.01 (Completion of Acquisition) naming "CC Neuberger Principal Holdings II" — the SPAC merged into a new registrant and so filed no closing report of its own. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "CC Neuberger Principal Holdings II Sponsor LLC" sourced from prospectus definition (10-K/A) acc 0001104659-21-070648.
AI-extracted target (z-ai/glm-5.2, conf 0.99)
target recovered for a completed de-SPAC; no agreement-naming filing on file, so announcedAt is NULL rather than guessed
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read