$CCIV Got the deal done at $24b not $15b like rumored over weekend, so down it goes...
At $60 this was $90b mkt cap assuming the $15b deal.
But at $45/share right now at $24b valuation, it is implied $108b market cap.
More expensive than it was at $60/share
You have to realize, the valuation is based on cash in the trust. You are paying 45 dollars for a share in CCIV trust that only buys 10 dollars worth of lucid. So the market valuation is much higher than the deal terms. Expensive...
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The valuation is actually being based off the PIPE price, which is $15/share. Still a ridiculous pre deal valuation.
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