Lucid investor page https://www.lucidmotors.com/investors/ https://www.lucidmotors.com/media-room/lucid-motors-public-merger-churchill-capital-corp-iv/ CCIV and Lucid are combining at a transaction equity value of $11.75 billion. The transaction includes an approximately $2.1 billion cash contribution by CCIV and a $2.5 billion, fully committed PIPE with an investor lock-up provision that binds holders well beyond closing. The PIPE is priced at $15.00 per share with an implied pro forma equity value of $24 billion. https://www.lucidmotors.com/files/lucid-investor-deck-february-2021.pdf Page 62 CCIV shareholders 258.1 million shares PIPE shareholders 166.7 million shares Existing Lucid shareholders 1,175 million shares Total = 1,599.7 million shares PIPE is 166.7 million * $15 = $2.5 billion The $11.75 billion is probably (Existing Lucid shareholders 1,175 million shares * $10) The 258.1 million shares for existing CCIV shareholders includes 41.4 million public warrants and 29.57 million founder warrants (at $15 per share). Does not include 17.25 million founder shares or 14.78 founder warrants at prices of $20 and above. 10-Q from November 9 https://www.sec.gov/Archives/edgar/data/1811210/000110465920123051/tm2032809d1_10q.htm 207,000,000 shares of Class A common stock, and 51,750,000 shares of Class B common stock, issued and outstanding.