The Saudi Arabia-funded electric car maker Lucid Motors is about to go IPO, according to several media reports . In doing so, the manufacturer of high-performance and long-range EVs with a state-of-the-art technology is likely to use SPAC route ( Special Purpose Acquisition Company ), an already listed blank check company, founded only for the purpose of having an existing company to merge with them, making them public.
The company swallowed up by the SPAC can thus go public more efficiently and faster. With a conventional IPO, a so-called Initial Public Offering (IPO), the entire process usually takes four to six months to complete .
SPAC that will probably take Lucid Motors public is rumored to be Churchill Capital Corp IV (NYSE:CCIV), but nothing is clear yet, as no official confirmation came our way. The latest avalanche of CCIV -Lucid Motors merger rumors made CCIC one of the most volatile SPAC related stocks.
While everyone is waiting for this deal to go through, investors in some of the EU countries and Britain got a chance to buy CCIV stock. Why waiting for a merger when you can jump in headfirst? And one of the known German sites even listed CCIV ticker as a Lucid Motors stock.
So, if you are in Europe and want to trade CCIV you can do so in Germany or you can do so through Tradegate Exchange as reported by a social media user above.