Benzinga · Jun 29, 2021
5 SPACs To Watch In The Second Half 2021
As the close of the first half of 2021 nears, investors have a chance to look at some companies that could have big moves in the second half of 2021. Here is a look at five SPACs to watch in the second half of 2021. Churchill Capital Corp IV: Electric vehicle company Lucid Motors is merging with Churchill Capital Corp IV (NYSE: CCIV) in a deal that has been one of the most discussed of its kind. The deal valued Lucid Motors at $24 billion based on a pricing of $15 for the PIPE on the deal. Lucid Motors is set to launch the Lucid Air sedan in the second half of 2021. There were over 7,500 reservations of the Lucid Air in February representing $650 million in sales for Lucid Motors. The company’s production capabilities are 34,000 units annually, with expansion plans that would take the company to 365,000 units annually. Announced future models include the Lucid Gravity SUV in 2023 and plans for more sedan and SUVs in the future. Shares of CCIV had hit a high of $64.86 before falling below the $20 level. Shares traded over the $30 level shortly in March and have not reached that level again. With several ...
