The companies are combining at a transaction equity value of $11.75 billion. The transaction values Lucid at an initial pro-forma equity value of roughly $24 billion at the PIPE offer price of $15.00 per share.
The newly-combined company will receive an investment of around $4.6 billion, including $2.1 billion in cash and a $2.5 billion of fully committed PIPE at $15.00 per share.
The transaction is expected to close in the second quarter.
Price: 37.00, Change: -20.37, Percent Change: -35.51
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