Lucid (LCID) Stock Surges 15.43% As It Announces The Non-cash Repayment Of Public Orders

Lucid (LCID) experiences a rapid increase in the stock revenue by 15.43% during this week. However, today the company slightly moves by 0.04%. Throughout the month, the statistics show a surge of 20.92%, prices were fluctuating from $17.79 to $26.81. The market capitalization is equal to $41.162 billion. Recently, Lucid (LCID) announced that it will redeem all of its outstanding public warrants to purchase the stock of the Company’s Class A common stock.

They were issued under the Warrant Agreement dated July 29, 2020, by and between the company and Continental Stock Transfer & Trust Company as warrant agents, as part of the units sold in the first quarter of 2020. The Public Warrants trade under the ticker “LCIDW” on Nasdaq. Each Public Warrant enables the bearer to buy one share of Class A ordinary stock for $11.50 each, adjustments are possible. Lucid is entitled to redeem all outstanding Public Warrants under the provisions of the Warrant Agreement if the Class’s last sale price is equal to or greater than the Class’s last sale price.

Miriam Bozini

Finance and Business Reporter