Lucid Motors confirms Churchill Capital SPAC deal
The highly-anticipated move to take Lucid Motors public is set to raise circa $4.4bn, which would see the luxury EV manufacturer valued at as much as $24bn. After selling shares at $10 each and raising $2bn in an initial public offering (IPO) on the New York Stock Exchange last July, Churchill Capital has now embarked on a private investment in public equity (PIPE) transaction to sell shares and raise another $1bn, as reported by Reuters. Highlighting the investor-frenzy around the stock, Bloomberg’s Chris Bryant reported last Friday that “almost 240m shares have changed hands in the...
Source: cmcmarkets.com