Shares in Churchill Capital IV fell as much as 48% on Tuesday after the blank-check company's merger with Lucid Motors was announced. Electric-vehicle maker Lucid confirmed it would go public via the special-purpose acquisition company run by financier Michael Klein with a pro-forma equity value of $24 billion.
Full Answer
Is it too soon to buy Churchill capital (CCIV) stock?
Jul 01, 2021 · What happened Shares of Churchill Capital IV ( CCIV ), the special purpose acquisition company (SPAC) that soon hopes to merge with Lucid Motors, gave up early gains Thursday. Shares were down 3.4%...
What happened to Churchill capital and Lucid Motors?
Jul 22, 2021 · What happened Today was supposed to be a milestone day for owners of Churchill Capital IV (NYSE: CCIV) stock. The special purpose acquisition company (SPAC) scheduled a shareholder meeting to ...
Will Churchill PIPE shares be offered to retail investors?
Apr 16, 2021 · The Bottom Line on CCIV Stock. Following its merger with Churchill Capital, Lucid will have a strong financial base, as it is expected to …
Where does Churchill capital’S $2 billion SPAC money come from?
Feb 24, 2021 · Shares of Churchill Capital IV (NYSE: CCIV) plunged 18.5% on Wednesday, following the special purpose acquisition company's deal with electric vehicle maker Lucid Motors. So what Churchill's stock...
What happens to my Churchill stock after merger?
As a result of the merger, Churchill Capital and Lucid Motors will be renamed Lucid Group. In addition to this, shares of CCIV stock will switch over to the LCID stock ticker.Jul 23, 2021
What's happening with Churchill Capital?
Lucid completed the previously announced merger with Churchill Capital Corp IV on July 23, 2021. The combined company will now operate as Lucid Group, Inc. Lucid will be ringing the opening bell at Nasdaq on July 26 to celebrate the company's public listing.Jul 26, 2021
Is CCIV still merging with Lucid Motors?
Churchill Capital (NYSE:CCIV) stock is on the move Friday following news of the special purpose acquisition company (SPAC) closing its merger with Lucid Motors.Jul 23, 2021
Why did Churchill Capital stock go up?
What happened. Shares of Churchill Capital IV ( CCIV ) have had more of a wild ride in 2021 than most other special purpose acquisition companies (SPACs). The stock soared more than 450% as investors anticipated a merger announcement with promising electric vehicle (EV) company Lucid Motors.Jul 12, 2021
Who owns Churchill Capital?
Michael KleinOur founder, Michael Klein, is also the founder and managing partner of M. Klein and Company, which he founded in 2012.
Who is Churchill Capital merging with?
Lucid MotorsWeil Advised Churchill Capital Corp IV in its $11.75 Billion Merger with Lucid Motors. Weil advised Churchill Capital Corp IV, a special purpose acquisition company, in its $11.75 billion merger with Lucid Motors, which is setting new standards for sustainable mobility with its advanced luxury electric vehicles.Jul 23, 2021
Is Churchill Capital Corp IV a SPAC?
The stock of special-purpose acquisition company (SPAC) Churchill Capital Corp. IV ( CCIV ) has had a wild 2021.Jul 5, 2021
How much is CCIV stock today?
Realtime quote and/or trades are not sourced from all markets....Key Turning Points.52-Week High64.86Last Price24.2552-Week Low9.603 more rows
When did CCIV become LCID?
Should the merger be approved by investors (which it likely will be), CCIV will cease to trade, and shares will be converted to LCID, which will trade on the NYSE starting July 23.Jul 19, 2021
What is Churchill Capital IV stock?
Churchill Capital IV is a blank-check company formed by Wall Street veteran Michael Klein, one of the most prominent figures in the SPAC game alongside Chamath Palihapitiya and Bill Foley.
Is Churchill Capital a buy?
I personally would rate CCIV a hold for most, and a potential buy for those with some appetite for risk who are looking for an investment with a strong return outlook in a bullish scenario.May 17, 2021
Who owns Lucidair?
CEO Peter Rawlinson leads the company At the helm of Lucid is Peter Rawlinson, a former chief engineer of the Model S under Elon Musk, Tesla's CEO. He left Tesla after three years, feeling frustrated and limited in his work there. Rawlinson, 64, is a mechanical engineer by training.Feb 28, 2022
When did Lucid and Churchill close?
In February when the deal was announced the two companies had said they hoped to close the deal by the end of the second quarter, but Lucid and Churchill on Friday announced they anticipate closing the deal on July 23 following a July 22 shareholder vote.
Is Lucid Motors the next Tesla?
Lucid Motors is among the electric vehicle start-ups trying to position themselves as the next Tesla, and investors seem drawn to its prospects. The company's Air sedan should start rolling off the assembly line later this year, with plans to add an SUV and a home battery pack in the years to come.
How much money did Lucid get from Churchill?
Following its merger with Churchill Capital, Lucid will have a strong financial base, as it is expected to obtain about $4.4 billion of cash from the transaction. Of this, $2.1 billion will be from the Churchill SPAC and the remaining funds will come from large investors, such as the Saudi Arabian sovereign wealth fund, Fidelity and BlackRock (NYSE: BLK ).
When did Lucid start?
Lucid started in 2007 as a developer of EV battery systems. But the company eventually transformed into a car manufacturer. The company was smart to hire Peter Rawlinson, the former Vice President of Vehicle Engineering and Chief Engineer of Tesla, as its CEO.
Who is Tom Taulli?
Tom Taulli (@ttaulli) is the author of various books on investing and technology, including Artificial Intelligence Basics, High-Profit IPO Strategies and All About Short Selling. He is also the founder of WebIPO, which was one of the first platforms for public offerings during the 1990s. Article printed from InvestorPlace Media, ...
Is Churchill Capital merging with Lucid?
Churchill Capital Corp. IV (NYSE: CCIV ), a SPAC (special-purpose acquisition company), is poised to merge with EV maker Lucid Motors, which is taking on Tesla (NASDAQ: TSLA ). Lucid’s plan is to trade on the NYSE under the ticker, “LCID,” but it is not clear when the merger between Churchill and Lucid will be completed.
Who is the CEO of Churchill Capital?
It’s also important to note that the CEO of Churchill Capital is Michael Klein, who is one of the top operators of SPACs. Two of the other companies he brought to the markets through SPACs are Clarivate (NYSE: CLVT) and MultiPlan (NYSE: MPLN ). Moreover, there does appear to be considerable interest in Lucid’s vehicles.
What was Churchill's stock price on Feb 18?
Churchill's stock price surged to a high of $64.86 on Feb. 18 following reports that the SPAC was in talks to merge with Lucid. Yet since the two companies made their merger agreement official on Monday, Churchill's shares have shed approximately half their value.
How much does Churchill own Lucid?
The deal values Lucid at $24 billion. Churchill's shareholders will own 16.1% of Lucid after the merger. So, what's the problem? Well, investors had bid Churchill's market cap up to roughly $15 billion ahead of its merger announcement.
Who is Lucid led by?
Lucid is led by Peter Rawlinson, who formerly served as Tesla's chief engineer for its popular Model S sedan. Unfortunately, Churchill's shareholders weren't as pleased when they were made aware of the terms of its merger with Lucid.
Is Churchill Capital merging with Lucid Motors?
Churchill Capital and Lucid Motors merger gets closer. Weekend reports on Churchill Lucid merger say might happen Tuesday. Churchill Capital shares continue to be strong as further speculation over the merger with Lucid Motors aired at the weekend. The Churchill Lucid merger could be announced as early as Tuesday according to Bloomberg.
What is the risk of investing in open markets?
Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.
How many cars will Lucid make in 2021?
Lucid Motors was not ready to produce vehicles by the spring of 2021. Lucid projected 2021 production of just 557 vehicles, despite the 6,000 vehicle production target touted in the period before its merger with Churchill Capital.
When will Churchill Capital move to court?
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 6, 2021. Please visit our website to review more information and submit your transaction information.
Will the Merger Close?
The rally in CCIV stock began on Jan. 11. Shares closed the day before at $10.03, narrowly above their initial public offering price of $10. Then, Bloomberg reported that Churchill IV and Lucid were in merger talks.
What Is CCIV Stock Worth?
The rally in CCIV stock itself creates a bit of a potential problem for that deal. Churchill’s negotiating position has been significantly weakened. It absolutely has to get a deal done at this point, on basically any terms. Otherwise, CCIV stock plunges.
Buy Anyway?
Of course, after the past eleven months, there’s a simple retort to either of the risks: who cares?
