![]() ![]() Should Venrock-led consortium sell its stake to Churchill Capital, the SPAC would directly need to acquire a smaller stake in Lucid Motors while allowing for a higher overall valuation, thereby brightening the prospects for the merger. Before explaining further, readers should note that a SPAC only acquires a fraction of its target company – usually around 10 percent. We were able to glean from a number of sources that, in light of the ferocious rally in Churchill Capital shares, valuation remained a key concern between the two negotiating parties and the Saudi PIF, which retains a controlling stake in Lucid Motors. However, more importantly, this development cuts to the very heart of the purported valuation concerns that have been stalling these talks. First, this indicates that negotiations continue to plough ahead, thereby brightening the prospects for an eventual agreement. Now, this development has two major implications for the ongoing merger talks between Lucid Motors and Churchill Capital. In that round, Lucid Motors – known as Atieva back then – raised $7.1 million from Venrock, the China Environment Fund, etc. #Churchill capital stock lucid motors series#Readers should note that Venrock Associates is one of the oldest investors in Lucid Motors, having participated in the company’s Series B financing in 2009. #Churchill capital stock lucid motors update#Now, an update on the Bloomberg terminal has unleashed a fresh new wave of buying in Churchill Capital shares.Īs per the Bloomberg terminal, a consortium of investors, led by the VC firm Venrock Associates, is negotiating a sale of its Lucid stake to Churchill Capital. Lucid Motors continues to be the center of attention in the SPAC world as the luxury EV manufacturer’s merger talks with the SPAC Churchill Capital Corp. ![]() Just slightly more information than the Bloomberg terminal post, and a little more insight into what it may mean. ![]()
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