The electric vehicle race continues to heat up, and investors are paying close to attention to Lucid Motors. To be fair, its merger with Churchill Capital (NYSE:CCIV) is the SPAC that investors care about in 2021. Ahead of its big shareholder vote, Lucid Motors is bringing out the big guns and raising hype. With that in mind, there is one CCIV stock catalyst on the horizon.
Lucid Motors is hosting a shareholder call, although it remains a private company. The management team of Lucid will be speaking with existing CCIV shareholders soon in what is presumably an effort to reinvigorate existing shareholders, whilst piquing the curiosity of prospective buyers.
Peter Rawlinson, CEO of Lucid and ex-Tesla (NASDAQ:TSLA) engineer, will be presenting a business update alongside Lucid CFO Sherry House. The details are fuzzy as of yet, but shareholders can expect an overview of Lucid’s operations and recent business dealings. Unfortunately, the call will be a presentation only; CCIV holders will not have a chance to engage House or Rawlinson with questions.
The meeting is coming very soon. Mark your calendars for July 13.
CCIV Stock Gains Amid Shareholder Call Announcement
This call comes at a crucial moment in the merger timeline between CCIV and Lucid.
CCIV’s recent SEC filing is setting the grounds for an important shareholder vote that will dictate some of the details of the merger. Dilution is becoming a prominent concern from this filing; investors are not too keen on the fact that one proposal would expand the company’s authorized number of shares from 500 million to a whopping 15.01 billion.
With just weeks to go before the biggest SPAC merger of 2021, it’s truly crunch time for these two entities. This call is a way to both reinvigorate and reduce nerves. Look forward to news covering more robust detailing of the merger afterward.
In the meantime, the announcement is boosting CCIV stock today. The SPAC play is up by about 4.5%, although trading volume is fairly low compared to its average.
On the date of publication, Brenden Rearick 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.
