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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.
Josh Hochberg, COO and global head of special situations and investor relations at Edelman Smithfield, has joined ICR as president, communications.
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Joele Frank is working the media for Atlanta’s Bitcoin Depot as the country’s largest operator of bitcoin ATMs files for Chapter 11 to begin the wind-down of its business.
Catalyst IR handles Mobix Labs as it signs a “non-binding letter of intent” to acquire Special Project Delivery LLC, a privately-owned platform with positions in US rare earth properties.
