Item 1. Security and Issuer
This Schedule 13D (this “Schedule 13D”) relates to the Class A common stock, par value $0.0001 per share (the “Common Stock”), of MultiPlan Corporation (formerly known as Churchill Capital Corp. III), a Delaware corporation (the “Issuer”). The principal executive offices of the Issuer are located at 115 Fifth Avenue, New York, NY 10003.
Item 2. Identity and Background
This Schedule 13D is filed jointly on behalf of H&F Corporate Investors VIII, Ltd. (“H&F VIII”), Hellman & Friedman Investors VIII, L.P. (“H&F Investors VIII”), Hellman & Friedman Capital Partners VIII, L.P. (“HFCP VIII”), Hellman & Friedman Capital Partners VIII (Parallel), L.P. (“HFCP VIII Parallel”), HFCP VIII (Parallel-A), L.P. (“HFCP VIII Parallel-A”), H&F Executives VIII, L.P. (“H&F VIII Executives”), H&F Associates VIII, L.P. (“H&F VIII Associates”, and together with HFCP VIII, HFCP VIII Parallel, HFCP VIII Parallel-A and H&F VIII Executives, the “H&F Partnerships”), H&F Polaris Partners, L.P. (“Polaris Partners”, and together with the H&F Partnerships, the “H&F Investors”) and H&F Polaris Partners GP, LLC (“Polaris Partners GP”, and together with H&F VIII, H&F Investors VIII, and the H&F Investors, the “Reporting Persons”).
H&F VIII is a Cayman Islands limited company whose principal business is serving as the general partner of H&F Investors VIII as well as other partnerships. H&F Investors VIII is a Cayman Islands limited partnership whose principal business is serving as the general partner of each of the H&F Partnerships as well as other partnerships. Each of HFCP VIII, HFCP VIII Parallel, H&F VIII Executives and H&F VIII Associates is a Cayman Islands limited partnership whose principal business is investing in securities. Each of HFCP VIII Parallel-A and Polaris Partners is a Delaware limited partnership whose principal business is investing in securities. Polaris Partners GP is a Delaware limited liability company whose principal business is serving as the general partner of Polaris Partners. The principal office of each of the Reporting Persons is located at 415 Mission Street, Suite 5700, San Francisco, CA 94105.
The Directors of H&F VIII are Philip U. Hammarskjold, David R. Tunnell and Allen R. Thorpe. Current information concerning the identity and background of each director of H&F VIII is set forth in Schedule I hereto, which is incorporated herein by reference in response to this Item 2.
To the best knowledge of the Reporting Persons, none of the entities or persons identified in the previous paragraphs of this Item 2 has, during the past five years, been convicted of any criminal proceeding (excluding traffic violations or similar misdemeanors), nor been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
The Reporting Persons have entered into an agreement of joint filing, a copy of which is attached hereto as Exhibit A.
Item 3. Source and Amount of Funds or Other Consideration
On October 8, 2020 (the “Closing Date”), in connection with the closing of the transactions contemplated by the Agreement and Plan of Merger (as amended, waived or otherwise modified, the “Merger Agreement”), dated as of July 12, 2020, by and among the Issuer, Polaris Parent Corp. (“MultiPlan Parent”), Polaris Investment Holdings, L.P. (“Holdings”), Music Merger Sub I, Inc., a newly formed Delaware corporation and subsidiary of the Issuer (“First Merger Sub”), and Music Merger Sub II LLC, a newly formed Delaware limited liability company and subsidiary of the Issuer (“Second Merger Sub”), pursuant to which, among other things, (i) First Merger Sub merged with and into MultiPlan Parent with MultiPlan Parent being the surviving company in the merger (the “First Merger”) and (ii) immediately following the First Merger and as part of the same overall transaction as the First Merger, MultiPlan Parent merged with and into Second Merger Sub, with Second Merger Sub surviving the merger as a wholly owned subsidiary of the Issuer (together with the First Merger, the “Mergers” and the Mergers, together with the other transactions contemplated by the Merger Agreement, the “Transactions”), the H&F Investors received, in exchange for their approximate 51% indirect ownership of MultiPlan Parent, 213,802,446 shares of Common Stock of the Issuer and cash consideration, in accordance with the Merger Agreement.
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