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Brunswick Group is driving electric vehicle maker Lucid Motors’ $24B reverse merger with Churchill Capital Corp. in the largest-ever special purpose acquisition company deal.
The deal provides fresh capital to the company as it brings the 500-mile range Lucid Air electric sedan to market this year and the Gravity SUV in 2023.
Lucid’s factory (Casa Grande, AZ) is scheduled to initially build 10K cars a year and then to scale up to more than 350K vehicles.
The Silicon Valley-based company currently employs 2,000 people and plans to add 3,000 more workers by the end of 2022.
CEO Peter Rawlinson, who was chief engineer at Tesla, said Lucid “is proud to be leading a new era of high-technology, high-efficiency zero-emission transportation.”
Going public will accelerate Lucid’s next phase of growth, he added.
Brunswick Group has Tim Daubenspeck, Stephen Powers and Will Rasmussen representing Lucid.
Gladstone Place Partners (Steve Lipin, Lauren Odell and Christina Stenson) handle Churchill.
FGS Global represents private equity firm Thoma Bravo as it makes a $4.6B bid for Darktrace, a UK-based cybersecurity artificial intelligence firm.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
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Feb. 24, 2021, by Joe Honick
It sounds like just one more good press release, but what you printed here is one more evidence of the future, though that "future" will take some years to replace what we have on the road today. This comes along with the reality of "flying cars" for urban and suburban use that have been in the research action for years. Given the unease and challenges among the conventional producers, oil industry and others, we are likely to see some interesting legislative and marketing combat as these newbies get more and more aggressive....and money!