Sumary of Why Churchill Capital IV Stock Slumped Today:
- The special purpose acquisition company (SPAC) scheduled a shareholder meeting to close the highly anticipated merger with electric vehicle maker Lucid Motors.
- So what Six of the seven proposals related to the business combination with Lucid Motors were overwhelmingly approved, according to the company.
- EDT tomorrow to give stockholders more time “given the higher required threshold for the proposal to adopt the post-closing company’s certificate of incorporation,” the company said in a statement.
- Approval of the final remaining proposal requires a majority of its outstanding shares, the company said.
- ” The company added that shares that are not voted will be counted as “for” the proposal.