Is CCIV merging with Lucid Motors?

Churchill Capital and Lucid Motors, an electric vehicle (EV) company, have been working on a SPAC merger for months. 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.

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.

Who is lucid owned by?

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.

Will CCIV become Lcid?

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. The SPAC saga of Churchill Capital Corp.

What happened to stock CCIV?

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. … Now that work is finally done as the two companies have completed the merger.

Who has invested in Lucid?

Top 10 Owners of Lucid Group Inc
StockholderStakeShares owned
BlackRock Fund Advisors0.46%7,571,784
Winslow Capital Management LLC0.46%7,528,734
Geode Capital Management LLC0.34%5,653,525
Magnetar Financial LLC0.21%3,521,683

Who makes batteries for Lucid?

LG Chem’s
In 2020, the company announced that the battery cells for “standard version” cars will be supplied by LG Chem’s LG Energy Solution. The battery pack of such a size, combined with outstanding efficiency, is expected to provide a range of more than 500 miles (800 km) on a single charge.

What happens to CCIV if it merges with lucid?

CCIV warrants after merger

CCIV had one-fifth of a redeemable warrant attached to each common stock. The warrants become exercisable either 30 days after the completion of the initial business combination or 12 months from the closing of the SPAC offering, whichever is later.

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.

When did CCIV become lucid?

Lucid Group trades under the “LCID” ticker symbol.

Lucid Group, the company formed after Lucid Motors’ July 23 merger with Churchill Capital Corp IV (CCIV), has become a publicly listed company.

How much will CCIV stock be worth?

Churchill Capital Corp IV quote is equal to 24.250 USD at 2022-01-03. Based on our forecasts, a long-term increase is expected, the “CCIV” stock price prognosis for 2026-07-22 is 116.401 USD. With a 5-year investment, the revenue is expected to be around +380%. Your current $100 investment may be up to $480 in 2027.

What happens to SPAC options after merger?

What happens to SPAC stock after the merger? After a merger is completed, shares of common stock automatically convert to the new business. Other options investors have are to: Exercise their warrants.

Did Churchill Capital merge with lucid?

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.

How much of Lucid will CCIV own?

Factoring in for the 19.1% ownership interest in Lucid by CCIV shareholders, Lucid is coming to market at an implied valuation of $42 billion. At this price, Lucid would trade at the same market capitalization as Tesla in 2017.

What is the future of CCIV?

CCIV-U quote is equal to 26.985 USD at 2022-01-01. Based on our forecasts, a long-term increase is expected, the “CCIV-U” stock price prognosis for 2026-07-22 is 144.536 USD. With a 5-year investment, the revenue is expected to be around +435.62%. Your current $100 investment may be up to $535.62 in 2027.

Is CCIV undervalued?

CCIV Stock Is Almost 20% Undervalued Ahead of Lucid Motors Merger.

How much cash is CCIV?

CCIV and Lucid are combining at a transaction equity value of $11.75 billion. The transaction includes an approximately $2.1 billion cash contribution by CCIV and a $2.5 billion, fully committed PIPE with an investor lock-up provision that binds holders well beyond closing.

How long should I hold CCIV?

Only Buy CCIV Stock If You’ll Hold It For At Least 5 Years.

Why is CCIV going up?

CCIV stock is getting a boost as investors salivate at the potential valuation of a special purpose acquisition company (SPAC) merger with electric vehicle (EV) maker Lucid Motors. … The company could end up pulling in a much larger valuation than previously expected when it completes its SPAC merger.

Why is CCIV stock going up?

Shares of Churchill Capital IV (NYSE: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.

How do I buy stock in CCIV?

How to Buy Churchill Capital (CCIV) Stock
  1. Pick a brokerage. The first step to buying shares of CCIV is to pick a brokerage. …
  2. Decide how many shares you want. Once you have your own brokerage account opened up, you next need to decide how many CCIV shares you want to buy. …
  3. Choose your order type. …
  4. Execute your trade.

Is CCIV a short squeeze?

A short squeeze for Churchill Capital Corp IV occurs when it has a large amount of short interest and its stock increases in price. This forces short sellers to cover their short interest positions by buying actual shares of CCIV, which in turn drives the price of the stock up even further.