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Lucid Motors Is Said to Near Deal to List Via Klein’s SPAC

  • Combined entity could be valued at as much as $15 billion
  • Churchill Capital shares surge up to 19% in Monday trading
relates to Lucid Motors Is Said to Near Deal to List Via Klein’s SPAC
Photographer: David Paul Morris/Bloomberg
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Lucid Motors Inc. is nearing a deal to go public through a merger with a blank-check company started by investment banker Michael Klein that could be announced early this week, according to people familiar with the matter.

The combined entity will be valued at as much as $15 billion, the people said, asking not to be identified because the matter is private. Churchill Capital Corp IV, the special purpose acquisition company, pared a gain of as much as 19% to trade 12% higher at $59.39 at 10:19 a.m. Monday in New York.