Mitsui-backed Lucid will be valued at $11.8bn once the deal closes, as it prepares to commercially launch its all-electric luxury sedan.
Lucid Motors, a US-based luxury electric vehicle provider backed by diversified conglomerate Mitsui, agreed yesterday to execute a reverse merger with special purpose acquisition company Churchill Capital Corp IV.
The deal will involve a combined equity value of almost $11.8bn and it will be listed on the New York Stock Exchange, following Churchill’s flotation in a $1.8bn initial public offering in July 2020.
Saudi Arabia’s Public Investment Fund (PIF) is anchoring a $2.5bn private investment in public equity financing for…
