Lucid Motors’ $4.5 billion merger is being held up by spam filters
Lucid Motors is on the precipice of completing a merger that will give the Saudi-owned electric vehicle startup $4.5 billion in fresh capital. But the deal is being held up, in part, by spam filters.
The California-based startup is merging with a special purpose acquisition company, or SPAC, called Churchill Capital IV that is already listed on the New York Stock Exchange. For the merger to go through, Churchill shareholders have to approve a number of proposals that outline the terms. That vote was supposed to close today, but Churchill extended the deadline to Friday because not enough shareholders have approved a key proposal.
There are a few possible reasons why. The first is the spam filter issue. To participate in that vote,...