Having a $2 billion pot of cash is nice, but what if shareholders told you that cash is really worth about $15 billion? It sounds like a great problem to have, but it creates complications too, Bloomberg reports.
This is essentially what’s happened to Churchill Capital Corp IV, the largest of Michael Klein’s seven SPACs. CCIV, the ticker by which the former Citi banker’s SPAC is known by Redditors and other retail fans, is at the center of the stock market’s latest bout of speculative mania. As with Tesla, this one also involves an electric-vehicle company. Read more.
