Churchill Capital IV (NYSE:CCIV) stock is on the move in pre-market trading for Monday as the company inches ever closer to its merger with Lucid Motors.
A press release from Churchill Capital IV reveals additional details about its merger plan with Lucid Motors. The U.S. Securities and Exchange Commission (SEC) has confirmed its Form S-4 which will have it holding a special meeting of shareholders to vote on the matter.
Shareholders of CCIV stock will meet on July 22 for a special meeting to vote on the matter. So long as all goes well, the plan is for the combination with Lucid Motors to be confirmed the following day.
Churchill Capital IV will also see a change to its stock once the merger is complete. First off, the shares will change from CCIV to the new LCID stock ticker. They will also be delisted from the New York Stock Exchange and moved over to the Nasdaq Exchange.
Michael Klein, chairman and CEO of Churchill Capital IV, said this about the news boosting CCIV stock up today.
“Lucid has exceeded our expectations since announcing the merger at the end of February and is set to become a leading US technology and sustainable mobility company. We believe Lucid will take EVs to the next level with its proprietary technology and will provide attractive opportunities for Churchill investors.”
CCIV stock was up 4.9% in pre-market trading on Monday and is up 150.8% since the start of the year.
We’ve got plenty of other recent stock stories for investors to check out today!
It may be early in the morning but that doesn’t mean there’s no news to discuss. For example, we can look at why gene-editing stocks are on the move today, the stocks seings the biggest gains and losses in pre-market trading, and more. You can check out all of that at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.