Lucid Motors strikes SPAC deal to go public with $24 billion valuation

Lucid Motors strikes SPAC deal to go public with $24 billion valuation

a week ago
Anonymous $rH7oE7DjRg

https://techcrunch.com/2021/02/22/lucid-motors-strikes-spac-deal-to-go-public-with-24-billion-valuation/

Lucid Motors reached an agreement to become a publicly traded company through a merger with special-purpose acquisition company Churchill Capital IV Corp, in the largest deal yet between a blank-check company and electric vehicle startup. 

The combined company, in which Saudi Arabia’s sovereign fund will continue to be the largest shareholder, will have a transaction equity value of $11.75 billion. Private investment in the public equity deal is priced at $15 a share, putting the implied the pro-forma equity value at $24 billion. The announcement comes more than a week after Bloomberg, citing unnamed sources, reported a deal was close to being finalized.