Lucid Motors to Go Public in Merger with Churchill Capital Corp IV (CCIV)

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Lucid Motors to Go Public in Merger with Churchill Capital Corp IV, Bolstering Lucid's Vision to Redefine Luxury, Performance and Efficiency in the Sustainable Electric Vehicle Market

February 22, 2021 5:55 PM EST

NEWARK, Calif. and NEW YORK, Feb. 22, 2021 /PRNewswire/ -- Lucid Motors ("Lucid"), which is setting new standards for sustainable mobility with its advanced luxury EVs, and Churchill Capital Corp IV (NYSE: CCIV) ("CCIV" or "Churchill"), a special purpose acquisition company, announced today that they have entered into a definitive merger agreement. CCIV and Lucid are combining at a transaction equity value of $11.75 billion. The transaction values Lucid at an initial pro-forma equity value of approximately $24 billion at the PIPE offer price of $15.00 per share and will provide Lucid with approximately $4.4... More