However, neither of the companies have confirmed the reports yet. Statues, like words, should be used in right places. With a rising number of EV firms going public via the SPAC merger way, it will not be very unusual for Churchill Capital to finalize a business combination with Lucid Motors. The blank check company reported in its latest regulatory filing that it raised over US$ 2 billion in 2020.Ĭhurchill Capital Corp also posted that its net cash used in operating activities stood at US$ 1.3 million in the six months ending 30 September 2020. Reports claims that a merger between Lucid Motors and Churchill Capital would be valued at about US$ 15 billion. It did so on excitement around Churchill’s announced deal to merge with electric vehicle (EV) maker Lucid Motors.
The statement, it says, came in response to various inquiries from its shareholders and the New York Stock Exchange, possibly regarding the speculation about its merger with Lucid Motors.Ĭhurchill Capital, however, noted that as a SPAC, it is “always evaluating” a range of potential business mergers.Ī different shell company owned by Michael Klein, Churchill Capital III, closed a business combination deal with health care enterprise MultiPlan Corporation (NYSE: MPLN, MPLN:US) in October 2020. CCIV stock exploded from 10 to 65 in a single month this past winter. The US-based shell company issued an official statement on Tuesday, January 19, saying that it will “not comment” on inquiries pertaining to any specific business opportunity it is seeking. Holder Issuer Net Short Position Position Date Origin Tidal ETF Trust- Leatherback Long/Short Alternative Yield ETF: LCID-1399.0 shares, -40543. Job Tools Here are some facts about the deal: CCIV and Lucid combined at a. Get more info on our International short position coverage here. designs and manufactures innovative machine vision cameras. ‘We Will Not Comment,’ Says Churchill Capital Corp LUCID GROUP INC LCID: 12:45:03 UTC-12.8309: 14.4009: 200000: Current Active Short Positions. So, are Lucid Motors and Churchill Capital merging? Looks like the bosses aren’t ready to talk about it yet. Back in November, Churchill Capital Corp IV showed interest in acquiring a stake in telecom company AT&T Inc's DirecTV satellite-television business, the talks reportedly never went through. Wall Street veteran Michael Klein, who owns Churchill Capital, is said to have been looking around for a business combination for his SPAC for a while now. The stock price slipped marginally intraday to close at US$ 22.35 on Friday. The special purpose acquisition company (SPAC) saw its stocks soar by over 123 per cent in 2021 so far, and by almost 126 per cent in the last six months.Ĭhurchill Capital shares rose to their highest level ever at US$ 22.67 on Friday, January 22. Stocks of blank check company Churchill Capital Corp IV (NYSE: CCIV.U, CCIV.U:US) have been on the rise since reports of its merger talks with California-based electric vehicle (EV) firm Lucid Motors Inc made headlines earlier in January.
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