Lucid dream deal turns Klein's $43 million investment into $3.3 billion windfall

- Veteran dealmaker Michael Klein and his partners have made a paper gain of nearly $3.3 billion on their $43 million personal investment in the blank-check acquisition firm they are merging with luxury electric vehicle startup Lucid Motors Inc, according to Reuters calculations.

Many mom-and-pop investors bought Churchill Capital IV shares hoping for a quick gain, pushing Lucid’s implied valuation from $11.75 billion at its nominal deal price to $56.3 billion at Tuesday’s closing price. Klein and his partners received 42.85 million warrants in the SPAC which are exercisable at $1 apiece, according to regulatory filings. They were also given 51.75 million so-called founders’ shares in the SPAC.

A Dodge Charger?

Wtf is that dodge charger....😂🤣😂

Budgeting doesn’t work because unexpected expenses always blow you off course. practical ways to stop money worries ...how to save and invest

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Electric vehicle firm Lucid Motors to go public in $11.8 billion blank-check mergerLucid plans to go public through a reverse merger with a blank-check company started by veteran investment banker Michael Klein. CNBC always 4 hours late w/ tweets This looks so much better than a Tesla! it's practically free as long as you spend $22.1 Trillion.
Source: CNBC - 🏆 12. / 72 Read more »