Lucid Motors, which is an electric vehicle startup, is close to a deal to go public via a special purpose acquisition company started by investment banker Michael Klein, Bloomberg reported, citing people familiar with the matter.
The report said that two people familiar believe that the deal could be announced on Tuesday. But, since nothing has been finalized--the talks could fall through.
The SPAC, Klein's Churchill Capital Corp IV--his largest--would be used to take Lucid public. And the combined entity could be valued at as much as $25 billion per Bloomberg's reporting.
Recap TheStreet Live: Everything Jim Cramer Is Watching in the Markets Monday
Curious about what Jim Cramer and his team at Action Alerts PLUS are watching in the markets? Watch Cramer's exclusive members-only Daily Rundown show on Action Alerts PLUS following TheStreet Live.