Lucid Motors shares are acceptable to commercialized connected the Nasdaq Monday aft the company’s merger with a blank-check institution was approved connected a 2nd effort Friday.
Lucid Motors and Churchill Capital Corp. IV CCIV, 3.93%, a special-purpose acquisition company, oregon SPAC, announced the woody successful February, an concern of astir $4.5 cardinal successful backing to Lucid. The banal is expected to commercialized nether the awesome LCID.
The Newark, Calif., institution hopes to commencement selling its Lucid Air, a luxury electrical sedan built astatine Lucid’s mill successful Arizona, successful the 2nd fractional of this year.
The institution had to widen the merger ballot to Friday from Thursday aft what it called “very circumstantial method factors” relating to revising its charter and the financing, a connection that needed further votes, Lucid said successful a filing.
The merger itself was approved by much than 99% of the shareholders, the institution said.
Earlier this week, EV shaper Faraday Future Intelligent Electric Inc.’s FFIE, +1.65% shares debuted connected the Nasdaq this week aft the completion of a merger with a SPAC. EV shaper Fisker Inc. FSR, -2.55% took the aforesaid roadworthy past year.
A Saudi Arabian concern money volition ain implicit 60% of Lucid, booking a nett of astir $20 cardinal connected its $2.9 cardinal concern successful Lucid.