Lucid Motors Is Going Public: A First Look at a Huge EV Deal
One of the most promising electric vehicle start-ups, Lucid Motors, will soon go public. After weeks of speculation, the company confirmed on Monday night that it will merge with a special purpose acquisition company (SPAC), Churchill Capital IV (NYSE: CCIV), in a deal that will take it public by the end of June.
As SPAC deals go, this is a very big one. Lucid is one of the most promising new companies in the space, and -- as you'd expect -- the amount of money here is quite substantial.
Let's take a closer look.
If you've followed other recent SPAC deals, you probably know that they follow a somewhat standard form. The SPAC brings its own money, raised via its initial public offering, as well as a so-called "PIPE" funded by third-party investors.
Source Fool.com
