Keine Ahnung ob das so stimmt, aber die meisten sind anscheinend erstmal 180 Tage gesperrt:
1- Share ratio post merger? 1:1, means 1 $LCID for 1 $CCIV share
2- 15B dilution post merger? Myth, authorized share is different from issued shares.
3- Tradeable shares post-merger? Same 207M $CCIV shares + additional 60M shorted shares
4- What about other shares that make the total 1.6B?
- PIF (Saudi) 1B shares locked up for 180 days
- Early Lucid share holders & execs 175M locked up for 180 days
- PIPE 166M shares locked up until Sep 1
- Klein 51M shares locked up until 2023
- 207M CCIV tradeable (+60M additional float due to shorted shares)
5- Expected next share issuance & dilution? early 2023
6- effect of next share issuance & dilution? -6% estimate
Q: What happens when lock up period expires?
A: It means the holder of shares HAS the ability to sell, but having ability to sell doesn't mean they sell
Q: PIPE has 166M shares. Who are PIPEs?
A: PIPE are 7 large institutions that contributed 2.5B in capital together
- Blackrock
- Fidelity
- Saudi Arabia(13.3M shares)
- Franklin Templeton
- Neuberger Berman
- Wellington Asset Management
- Winslow Capital Management
Q: Will all PIPE investors suddenly sell on lock up expiration?
A: Likely not, they have the ability to sell but whether they sell or no is yet to be seen. Lucid and Saudis emphasized in February that PIPE investors have *implicit* long-term capital commitment. The PIPE investors had the privilege to take part in the $15 per share offer. Many of these capital commitments have implicit strings attached to them. If they sell on Sep 1 and run away, they probably lose access to any other offerings by Saudis forever. Who wants to lose a 800B fund client?