Image credit: Jzh2074

Lucid Motors and blank check company Churchill Capital IV announced a merger to take the California-based electric vehicle company public.

A blank check company is defined as a development stage company with no specific business plan or purpose, or one that’s said its business plan is to engage in M&A with an unidentified company.

The deal values Lucid at an initial pro-forma equity value of approximately $24 billion. Valuation is at the PIPE (private investment in public equity) offer price of $15.00 per share. It will provide the electric vehicle company with approximately $4.4 billion in cash…

Carpenter Wellington PLLC

Ryan Carpenter serves as Attorney and Managing Director of Carpenter Wellington. Ryan advises clients across a broad set of corporate and commercial matters.

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