CCIV stock will automatically convert to Lucid Motors shares when the merger is closed, and it will cease to exist in its SPAC avatar. CCIV warrants The CCIV SPAC warrant is trading on the NYSE under the ticker symbol “CCIV.WS”. On Jun. 29, CCIV.WS was trading at $13.78.
Is CCIV stock a good buy?
Jun 30, 2021 · CCIV stock will automatically convert to Lucid Motors shares when the merger is closed, and it will cease to exist in its SPAC avatar. CCIV warrants The CCIV SPAC warrant is trading on the NYSE...
Should you buy CCIV stock?
Feb 02, 2022 · After the transaction has been completed, cciv stock will transform into lucid stock and trade under the ticker symbol “lcid.” 23rd 2021 9:30 am pt. 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.
What happens to CCIV stock after the Lucid Motors merger?
Feb 23, 2021 · The CCIV SPAC merger with Lucid Motors is expected to close sometime in the second quarter of 2021 and generate about $4.4 billion in cash to fuel Lucid’s expansion. One InvestorPlace analyst...
Is merger with Lucid Motors a clear win for CCIV?
Jul 23, 2021 · July 23, 2021, 9:18 AM · 2 min read. Churchill Capital (NYSE: CCIV) stock is on the move Friday following news of the special purpose acquisition company (SPAC) closing its merger with Lucid ...
What will happen to CCIV stock after lucid 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
Will CCIV merge with lucid?
After days of both sides rallying stockholders to exercise their vote, the SPAC merger between Lucid Motors and Churchill Capital Corp IV (CCIV) has been approved.Jul 23, 2021
Will my CCIV stock convert to LCID?
Shareholders approved the long-awaited merger between Churchill Capital and Lucid (NASDAQ:LCID) on Friday. This was the last roadblock to making the deal a reality. As such, as of Monday, CCIV stock has converted into LCID stock. The company is known as Lucid Group and trades on the Nasdaq.Jul 29, 2021
How many lucid shares does CCIV have?
Moreover, the PIPE investors, who are bringing in $2.5 billion in crucial liquidity, also need to be issued new shares, to the tune of 166.66 million. Assuming no redemptions, 1.595 billion Lucid Group common shares will have to be issued in total upon the close of the merger agreement.Jul 8, 2021
Will my CCIV stock become lucid stock?
Now that work is finally done as the two companies have completed the 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
When did lucid merge with CCIV?
and NEW YORK, July 23, 2021 /PRNewswire/ -- Churchill Capital Corp IV ("Churchill IV" or "CCIV") (NYSE: CCIV), a publicly traded special purpose acquisition company, and Lucid Motors today announced the completion of their business combination, taking public a company that is setting new standards with its advanced ...Jul 26, 2021
Is CCIV and LCID same?
CCIV is now officially LCID as the Lucid Motors transaction has closed and begins trading under its new ticker today. All 7 SPAC merger votes are at prices that make more big redemptions possible.Jul 26, 2021
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
Why is lucid stock so low?
It's worth noting that Lucid has so far stated supply concerns -- and not company-specific problems -- as the major reason it expects low production this year.Mar 4, 2022
Is CCIV stock a good 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
When did CCIV go public?
Lucid Motors will be going public through a SPAC merger with Michael Klein's Churchill Capital Corp IV (NYSE: CCIV) on July 23.
What will CCIV New ticker be?
Churchill Capital IV shareholders have voted in favor of merging with Lucid. The stock will change its ticker symbol to "LCID" on Monday.Jul 24, 2021
When will Lucid Motors merge with Churchill Capital?
ET. After several weeks of rumors about a potential merger of Lucid Motors with SPAC Churchill Capital IV, both companies confirmed the deal on Feb. 22. Churchill Capital is a blank-check company created purely to invest in a startup. Churchill Capital raised over $2 billion in its SPAC IPO in 2020.
How much did Churchill Capital raise in 2020?
Churchill Capital raised over $2 billion in its SPAC IPO in 2020. Shares of CCIV shot up by more than 470 percent last month when talks of the potential merger first surfaced. However, news of a definitive agreement being reached prompted an immediate drop in share prices by as much as 46 percent.
CCIV Stock Is a Play on Infrastructure
President Joe Biden’s infrastructure spending plan addressed the need for job creation to boost the U.S. market share of plug-in electric vehicles. Biden is proposing a $174 billion investment to win the EV market. From domestic battery and parts supply, the U.S. will give consumers sales rebates and tax incentives to buy American-made EVs.
Impressive Specifications
Lucid’s luxury EV has a maximum horsepower of 1,080 and a range of 500 miles per charge. It can go from zero to 60 mph in just 2.5 seconds. With that acceleration, the EV is comparable to a supercar.
Opportunity
Just as investors lack a financial model to assign a fair value on Tesla stock, the same applies to CCIV shares. Readers should look at Lucid’s investor presentation that was posted in February as a starting point.
Product Roadmap
In 2023, Lucid’s Project Gravity will result in an SUV launch. When it gets there, it will already have Lucid Electric Advanced Platform. So, it may build on its existing powertrain while adding more features and performance standards to the EV SUV. For 2030, it will have other planned sedans and SUVs.
Your Takeaway
Churchill shares fell enough to wipe out the euphoria. At current levels, the stock is approaching buy levels. The infrastructure spending in the U.S. may lift all boats. Tesla will very likely rebound first because it is a widely held stock.
Is Lucid a pre-revenue company?
Even if we can get behind these numbers, the reality is that Lucid trades at a whopping multiple of 8.5x 2023 sales. That makes Lucid a pre-revenue company that’s more expensive than Tesla, which currently trades at estimated 8x 2023 sales. Momentum has stretched this stock beyond its fundamentals.
Is Lucid Motors a public company?
CCIV shareholders finally have a catalyst: Lucid Motors will soon become a public company. But that’s also when, quite literally, the rubber meets the road. First, here’s the good news. Lucid is pleased with its initial quality validation prototypes and still targets production of 557 cars in late 2021.
When will Lucid be released?
Lucid also unveiled its next vehicle which is set to begin production in 2022 and hopefully hit the streets by 2023. The model should be a direct competitor to Tesla’s (NASDAQ:TSLA) premium Model X SUV, as well as upcoming luxury models from BMW and Nio (NYSE:NIO).
When will Lucid Gravity SUV be released?
Lucid also unveiled new production details including its Gravity SUV model coming in 2023. NYSE:CCIV reversed course on Tuesday after investors received some long awaited news from the CEO.
Who is the CEO of Lucid Motors?
Lucid Motors CEO Peter Rawlinson joined CNBC’s Squawk Box to provide a much needed update for its operations for the rest of 2021. Much to investors’ relief, Rawlinson was able to reiterate that Lucid’s production and delivery schedules were right on time, and that the first pre-orders will ship out by the end of the year. Rawlinson also discussed further upgrades to production facilities which are anticipated to add 2.7 million square feet by the end of 2023 which will increase manufacturing to 53,000 vehicles per year.
How many preorders are there for Lucid Air?
Additionally, reservation data shows that the Lucid Air has more than 10,000 existing preorders standing. For a company that’s likely to only produce a few hundred this year, demand going into 2022 appears to be strong.
What is Lucid Air?
Lucid’s core flagship EV product, the Lucid Air, brings a level of luxury and style to the EV market that is reminiscent of Tesla’s Model S. When many investors first saw the Model S, the thought that likely came to mind is “that’s an EV I’d buy.”. Indeed, Lucid’s product quality, design, and feel are among the key reasons investors ...
Is Lucid Energy Storage progressing?
For one, the company’s energy storage system prototype appears to be progressing positively. Additionally, Lucid announced the company would be pulling forward a substantial amount of Capex to help accelerate production.
When will Lucid Studio open in NYC?
June 26 marked the grand opening of the first Lucid Studio in the Northeast, in NYC’s Meatpacking District. There are 12 more expected to open throughout North America by the end of 2021. Other locations will include San Francisco, Phoenix, Long Island, Boston, Vancouver, San Diego and the D.C. Metro.
Is Lucid Air still in production?
Lucid Air is no longer in pre-production. Our final quality run is already on the roads and soon will be available for test drives and for our early reservation holders to take delivery. With now over 10,000 reservations and growing, we are on track to make around 20,000 vehicles by the end of 2022.
