https://wccftech.com/lucid-motors-is-likely-to-remain-scorching-hot-even-in-the-post-spac-phase-as-churchill-capital-corp-iv-cciv-now-seeks-additional-financing-to-shore-up-the-deal/

Lucid Motors, the manufacturer of high-end luxury electric vehicles, is approaching a critical milestone as the prospects of its public debut shine brighter than ever.

According to the exclusive reporting by Reuters, Lucid Motors and the SPAC Churchill Capital Corp. IV (NYSE:CCIV) are now closing in on a deal that would value the EV manufacturer at around $12 billion. Moreover, the SPAC is seeking additional PIPE investment of around $1 billion to shore up the merger deal. However, based on investor demand, this round of PIPE financing may well reach $1.5 billion. For those that are unfamiliar with its structure, a PIPE investment is a mechanism whereby institutional investors receive shares in a company at a discount in return for injecting crucial liquidity. According to Reuters, a deal between Lucid Motors and Churchill Capital may materialize within February 2021 should the SPAC manage to procure this additional PIPE investment. Given the euphoria surrounding Churchill Capital shares currently, this endeavor should prove to be a breeze.