CCIV

Churchill Capital Corp IV (ticker: CCIV) was a special purpose acquisition company, or SPAC, formed in 2020 and sponsored by investor Michael Klein’s Churchill Capital Corp IV. Like other SPACs, it raised funds through an initial public offering with the purpose of merging with or acquiring a private company, enabling that company to become publicly traded without a traditional IPO.

In February 2021, CCIV announced a merger with Lucid Motors, an electric-vehicle manufacturer backed in part by Saudi Arabia’s Public Investment Fund. The proposed deal would result in the combined entity, to be named Lucid Group, trading on the Nasdaq under the ticker LCID. The transaction was valued at around $24 billion, and Lucid would become a publicly traded company as a result of the merger.

The merger was completed in July 2021. Following the closing, Churchill Capital Corp IV ceased to exist as a separate entity, and Lucid Group began trading on Nasdaq as LCID. Holders of CCIV shares generally had the option to redeem their shares for the pro rata portion of the trust and convertments, a common feature of SPAC transactions.

Lucid Group, the post-merger company, focuses on electric vehicles, with models such as the Lucid Air and plans for scale-up of production and international expansion. The CCIV transaction occurred during a broader wave of SPAC activity in 2020–2021, and Lucid’s public listing under LCID positioned it as a competitor in the growing electric-vehicle market alongside established automakers and other EV startups. As of today, CCIV no longer trades as a separate entity, having been superseded by Lucid Group (LCID).