Lucid Group, Inc. 10-K/A

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. Market Information. Our units, Class A common stock and warrants are traded on the NYSE under the symbols “CCIV.U”, “CCIV” and “CCIV WS”, respectively. Holders Although there are a larger number of beneficial owners, at February 28, 2021, there was one holder of record of our units, one holder of record of our separately traded common stock and two holders of record of our separately traded warrants. Dividends We have not paid any cash dividends on our shares of common stock to date and do not intend to pay cash dividends prior to the completion of our initial business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent to completion of our initial business combination. The payment of any cash dividends subsequent to our initial business combination will be within the discretion of our board of directors at such time. In addition, our board of directors is not currently contemplating and does not anticipate declaring any share dividends in the foreseeable future. Further, if we incur any indebtedness in connection with our initial business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith. Securities Authorized for Issuance Under Equity Compensation Plans None. Recent Sales of Unregistered Securities; Use of Proceeds from Registered Offerings In May 2020, our sponsor purchased an aggregate of 21,562,500 shares of our “founder shares for an aggregate purchase price of $25,000, or approximately $0.001 per share. Our Class B common stock will automatically convert into shares of Class A common stock, on a one-for-one basis, upon the completion of a business combination. On July 14, 2020, we effected a stock dividend of one-third of a share of Class B common stock for each outstanding share of Class B common stock, resulting in our initial stockholders holding an aggregate of 28,750,000 founder shares. On July 27, 2020, we effected a stock dividend of 0.50 of a share of Class B common stock for each outstanding share of Class B common stock, resulting in our initial stockholders holding an aggregate of 43,125,000 founder shares. On July 30, 2020, we effected a stock dividend of 0.20 of a share of Class B common stock for each outstanding share of Class B common stock, resulting in our initial stockholders holding an aggregate of 51,750,000 founder shares. The number of founder shares issued was determined based on the expectation that the founder shares would represent 20% of the outstanding shares of common stock upon completion of the IPO. On August 3, 2020, we completed our IPO of 207,000,000 units at a price of $10.00 per unit, generating gross proceeds of $2,070,000,000. Each unit consists of one of the Company’s shares of Class A common stock, par value $0.0001 per share, and one-fifth of one warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share, subject to certain adjustments. Following the closing of the IPO, an aggregate of $2,070,000,000 was placed in the trust account. The Company incurred $109,714,885 of offering costs in connection with the IPO, inclusive of $72,450,000 of deferred underwriting commissions payable to the underwriters from the amounts held in the trust account solely in the event the Company completes a business combination. There has been no material change in the planned use of proceeds from the IPO as described in our final prospectus dated July 30, 2020, which was filed with the SEC. Concurrently with the completion of the IPO, our sponsor purchased an aggregate of 42,850,000 warrants at a price of $1.00 per warrant, or $42,850,000 in the aggregate. An aggregate of $2,070,000,000 from the proceeds of the IPO and the private placement warrants was placed in a trust account such that the trust account held $2,070,000,000 at the time of closing of the IPO. Each whole private placement warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share, subject to certain adjustments. 38 Item 6. Selected Financial Data. The following table summarizes the relevant data for our business as of December 31, 2020 and should be read with our financial statements, which are included in this Amendment on Form 10-K: For the period from April 30, 2020 (inception) through December 31, 2020 Income Statement Data: Income Statement Data: Loss from operations $ (2,976,423 ) Net loss (63,467,875 ) December 31, 2020 Balance Sheet Data: Cash $ 3,592,857 Marketable securities held in trust account 2,070,086,006 Total assets 2,074,616,649 Total liabilities 216,178,873 Common stock subject to possible redemption 1,853,437,770 Total stockholders’ equity 5,000,006