$2.5B PIPE Locked up expire today
$Lucid Group(LCID.US$ locked up period expired today on 1st Sep. Lucid Motors received a PIPE investment of $2.5 billion, which was the largest for a SPAC.The PIPE investment in Lucid Motors was anchored by Saudi Arabia’s sovereign wealth fund PIF (Public Investment Fund), which is also the majority stockholder of the EV (electric vehicle) startup company. Funds and accounts managed by Fidelity Management & Research, BlackRock, Neuberger Berman, Wellington Management, Franklin Templeton, and Winslow Capital Management also participated in the PIPE investment.
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Dylinh : what does this all mean
FredkensteinOP : PIPE transaction is at 15 dollars so they still make some profit at current price if they choose to cash out now
FredkensteinOP Dylinh: It means these PIPE investors can start selling their shares which they bought at 15dollars
Dylinh : oh okay thank you for clarifying me, they sell I'll buy.
capper_ : What is the current trend of this stock