The link between Lucid Motors and Churchill Capital Corp IV CCIV 0.05%. shows no signs of slowing down and the deal could be getting close to being formally announced.
What Happened: Lucid Motors is nearing a deal with Churchill Capital Corp IV to go public. The deal would value the company at $12 billion, according to Reuters.
Churchill Capital Corp IV is working on raising between $1 billion and $1.5 billion in a private investment in public equity, commonly referred to as PIPE. The deal could be announced this month if Churchill Capital Corp IV can secure funds for the PIPE, according to Reuters.
Shares of Churchill Capital Corp IV were up earlier in the day with Lucid Motors CEO Peter Rawlinson appearing on Fox Business. The CEO discussed the company’s vehicle and battery plans for growth. A similar move in CCIV stock happened when Rawlinson appeared on CNBC earlier this month.
