Reservations have officially exceeded 10,000 reservations, but the company failed to commit to a 20,000 EV target, despite Rawlinson predicting significant growth for the company next year. The company has not released a concrete date for initial deliveries, but CEO Peter Rawlinson has confirmed they will take place in the second half of 2021. Lucid is preparing for deliveries of the Air Dream Edition sedan sometime later this year. The two companies came to terms with a merger agreement on February 22nd, with a transition equity value of $11.75 billion. However, shareholders needed to approve the merger, which went through this morning ultimately. The successful PIPE deal was expected to give Lucid an IPO as early as February. The size of the PIPE could reach 1. CCIV’s financier, Michael Klein, was initiating talks with numerous investors to raise more than $1 billion by selling holdings of a private investment in public equity. Churchill Capital IV has initiated talks with investors to raise more than 1 billion by selling shares in a private investment in public equity (PIPE) transaction for the deal with Lucid, the sources said. In February, Lucid and CCIV were nearing a deal that would see the combination of the two companies. I want to thank Michael and the Churchill team for their partnership and shared vision.” “We are making significant investments in the long-term growth and innovation of our company, and we will continue to bring to bear world-class technology to positively impact mankind’s transition to sustainable mobility. IV Retail Investors Stung by the Steep Drop following the Lucid Motors Deal Are Banding Together on Reddit to.
Lucid has further increased its momentum as we gear up to make the first customer deliveries of our Lucid Air lineup of electric sedans later this year,” CEO and CTO of Lucid Motors, Peter Rawlinson, said. “We are thrilled to complete our business combination with Churchill IV and become a public company. The company’s new trading symbols on Nasdaq will go from CCIV to “LCID” and “LCIDW,” respectively, starting Monday, July 26th, 2021.
The closing of the business combination is expected to occur today, July 23rd, subject to the satisfaction of all closing conditions. The company said that 98% of the votes cast supported the business combination.
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