Churchill Capital IV fell 35% in pre-market trading after Lucid Motors struck a deal to go public via the SPAC. The deal will generate $US4.4 billion for Lucid, which plans to use the funds to expand its Arizona facility. Churchill’s transaction values Lucid at about $US24 billion at the PIPE […]
The deal will generate about $4.4 billion in cash for Tesla rival Lucid, which plans to use the funds to expand its manufacturing facility in Arizona.
Bloomberg reports indicated that a merger of Lucid Motors and Michael Klein's SPAC Churchill Capital IV could come as soon as Tuesday.
Churchill Capital Corp IV is reportedly in talks with Lucid Motors to take the EV maker public at a valuation of ~$12 billion.