Churchill Capital IV jumps as Wall Street eyes Lucid Motors deal

Churchill Capital V

22/02/2021 15:29

** Churchill Capital Corp IV  CCIV.N  shares jump as
confidence increases that Michael Klein-backed SPAC (special
purpose acquisition co) is nearing deal with luxury EV maker
Lucid Motors
    ** CCIV last up 12.0% at $59.31 after rising to as high as
$63.20 early Mon
    ** Bloomberg over the weekend reported deal valuing the two
cos up to $15 bln could be announced as soon as Tues, citing two
people familiar with the matter (http://bloom.bg/3dEOvvk)
    ** CCIV's stock surged 32% to $52.70 last Tues after Reuters
reported deal could be reached this month, and could be
supported by a PIPE (private investment in public equity) as
large as $1.5 bln  urn:newsml:reuters.com:*:nL8N2KM058
    ** Shares have more than quadruped since Bloomberg first
reported last month CCIV was in talks to take Lucid public
    ** CCIV raised $2 bln in its July 2020 IPO

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))