Churchill Capital Corp IV does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was founded in 2020 and is based in New York, New York.
Caution here, its only up on the rumor of a merger! SPAC Churchill Capital declines comment on whether it is pursuing specific merger following 'unusual' trading of its stock
I think CCIV is still buying the rumor. Im curious though, is there any obligation from a company to dispel rumors if they are false? Sure its against their best interest because they are probably happily dumping shares at these prices.
I got some shares at $14.07 but sold about half way too early at $28.91 to get my initial investment back. The shares I am holding now are free shares but I would have made more if I held the other half longer
I dont think theres any law requiring a company to quelch rumors. Otherwise, it would have to know of ALL RUMORs that might be circulating which is impossible.
Even if it is true, look at what its buying, a tiny startup with no sale no facility just design. CCIV will have to be the money man. Deal doesnt look so good in crowded field of EV wannabe's.
This one had a big sell-off end of the day on Friday. Looks to be rallying pre-market back to where it was before the end-of-day dip on Friday. 5m candles
How I view this one. 1. Hype. OMG THERE'S A MERGER COMING! 2. Merger confirmed. YAY THEY'RE MERGING. BUT NOW WHAT? 3. Sells off. SO THEY'RE GOING TO MERGE? WAIT WHO ARE THEY EVEN MERGING WITH? OH... IT'S SOME NO-NAME AUTO-MAKER IN AN EXTREMELY BLOATED SPACE? WITH NO MARKET SHARE? AND THEY'RE GOING AGAINST THE RICHEST MAN IN THE WORLD? WHY WAS I EXCITED ABOUT THIS IN THE FIRST PLACE............... People didn't think this through
Its a bit more complicated that a reverse merger which most people are used to. Scroll back up to restore default view. Lucid Motors confirms SPAC deal: CCIV stock down 25% Ines Ferré ·Markets Reporter Mon, February 22, 2021, 5:00 PM·2 min read Lucid Motors and blank check company Churchill Capital IV (CCIV) confirmed a merger deal to take the California-based EV company public. Shares of Churchill Capital were down around 25% at 10:45 a.m. ET, though coming off their session lows. The transaction, announced on Monday evening, values Lucid at an initial pro-forma equity value of approximately $24 billion 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. The deal has a transaction equity value of $11.75 billion which includes a cash contribution from CCIV of $2.1 billion, and a PIPE investment of $2.5 billion with a lock-up provision that “binds holders well beyond closing.”
