Lucid Motors Now Has 11,000 Vehicle Reservations
After closing its merger with special-purpose acquisition company (SPAC) Churchill Capital IV last week, Lucid Group (NASDAQ: LCID) debuted on Monday as a publicly traded company with a new ticker. As part of closing the transaction, Lucid has now secured the $4.4 billion in net proceeds, which consists of $2.1 billion from the SPAC and another $2.5 billion from PIPE (private investment in public equity) investors, with $168 million going toward transaction expenses.
In celebrating the deal, Lucid also provided another important disclosure for investors: Vehicle reservations have now topped 11,000.
Image source: Lucid Motors.
Source Fool.com
