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. We are thrilled to complete our business combination with Churchill IV and become a public company. Lucid CEO and CTO Peter Rawlinson, shared his thoughts on the approved merger: $CCIV $LCID /QMr0XAlZlO- Lucid Motors July 23, 2021

We’re delighted to announce that Churchill Capital IV shareholders have voted overwhelmingly to approve the business combination with Lucid Motors. In a press release from CCIV this morning, both sides of the pending SPAC merger announced an approved close of the business combination.Īfter a barrage of rallying calls and Tweets from Lucid CEO Peter Rawlinson and CCIV chairman Michael Klein, institutional and retail shareholders exercised their right to vote, resulting in a 98% approval. Photo: Lucid Lucid shareholders approve SPAC merger to enter Nasdaq While the details of the 2021 Air deliveries remain hazy, shareholders have a clear view of the automaker’s financial future as a publicly traded company. Mere days after the merger was initially confirmed, Lucid announced a delay to the flagship Dream Edition trim of the Air sedan, which was originally scheduled to begin deliveries this past spring. Lucid shared it would eventually enter the Nasdaq and receive an approximate cash injection of $4.4 billion to accelerate its production of the Lucid Air and the development of future EVs like the Gravity SUV. If you don’t know by now, Lucid Motors is a luxury EV automaker on the cusp of delivering its first sedan, the Air, “sometime in the second half of 2021.”Īfter months of rumor and speculation surrounding a potential SPAC merger, Lucid announced it would go public last February, as part of a business combination with Churchill Capital Corp IV ( $CCIV). The closing of this long-anticipated merger is expected to close later today, and Lucid Motors is expected to trade on Nasdaq next week under the ticker symbol “LCID.” After days of both sides rallying stockholders to exercise their vote, the SPAC merger between Lucid Motors and Churchill Capital Corp IV (CCIV) has been approved.

Lucid motors merger