13 days ago • Posted by William Ramstein

Churchill Capital IV to take Lucid Motors public

Shares of Churchill Capital tanked as much as 27% after the news was announced on Monday evening. The stock's after-hours performance is a reversal from previous sessions when it rallied over reports of nearing a deal. 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 billion in cash (assuming no existing CCIV shares are redeemed for cash at closing). - Yahoo

bg_nwsletter