Item 7.01
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Regulation
FD Disclosure.
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On April 25, 2021, Peter Rawlinson, Chief Executive Officer and
Chief Technology Officer of Atieva, Inc. d/b/a Lucid Motors (“Lucid”), gave an interview to the BBC4 “The World
This Weekend” radio program. The transcript of the interview is attached as Exhibit 99.1 and incorporated by reference herein.
During this interview, referring to the planned future introduction of lower-cost variants of Lucid’s first electric car, Mr. Rawlinson
stated that “We can reduce the price of our Lucid Air by a factor of two within about 18 months of production.” The Lucid
Air Dream Edition, which is expected to enter production in the second half of 2021, is expected to be offered at a price of $169,000
before potential federal tax credits. Lucid expects to offer the Lucid Air Pure, a lower-cost variant of the Lucid Air, within 18 months
of the start of production of the Lucid Air Dream Edition at a starting price of $77,400 before potential federal tax credits.
The information in this Item 7.01, including Exhibit 99.1, is
furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), or otherwise subject to liabilities under that section, and shall not be deemed to be incorporated by
reference into the filings of Churchill Capital Corp IV (“CCIV”) under the Securities Act of 1933, as amended or the Exchange
Act, regardless of any general incorporation language in such filings. This Current Report will not be deemed an admission as to the materiality
of any information of the information in this Item 7.01, including Exhibit 99.1.
Additional Information About the Proposed Transactions and Where
to Find It
The proposed transactions will be submitted to shareholders of CCIV
for their consideration. CCIV has filed a registration statement on Form S-4 (the “Registration Statement”) with the
Securities and Exchange Commission (the “SEC”) which will include preliminary and definitive proxy statements to be distributed
to CCIV’s shareholders in connection with CCIV’s solicitation for proxies for the vote by CCIV’s shareholders in connection
with the proposed transactions and other matters as described in the Registration Statement, as well as the prospectus relating to the
offer of the securities to be issued to Lucid’s shareholders in connection with the completion of the proposed business combination.
After the Registration Statement has been declared effective, CCIV will mail a definitive proxy statement and other relevant documents
to its stockholders as of the record date established for voting on the proposed transactions. CCIV’s stockholders and other interested
persons are advised to read the preliminary proxy statement/prospectus and any amendments thereto and, once available, the definitive
proxy statement/prospectus, in connection with CCIV’s solicitation of proxies for its special meeting of shareholders to be held
to approve, among other things, the proposed transactions, because these documents contain or will contain important information about
CCIV, Lucid and the proposed transactions. Shareholders may also obtain a copy of the preliminary or definitive proxy statement, once
available, as well as other documents filed with the SEC regarding the proposed transactions and other documents filed with the SEC by
CCIV, without charge, at the SEC's website located at www.sec.gov or by directing a request to CCIV.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED
OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR
THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Participants in the Solicitation
CCIV, Lucid and certain of their respective directors, executive officers
and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from
CCIV’s shareholders in connection with the proposed transactions. Information regarding the persons who may, under SEC rules, be
deemed participants in the solicitation of CCIV’s shareholders in connection with the proposed transactions is set forth in CCIV’s
proxy statement/prospectus included in the Registration Statement. Additional information regarding the participants in the proxy solicitation
and a description of their direct and indirect interests will be included in the proxy statement/prospectus when it becomes available.
Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully when it becomes available
before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation
of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such
jurisdiction.
Trademarks
This communication contains trademarks, service marks, trade names
and copyrights of Lucid, CCIV and other companies, which are the property of their respective owners.
Forward-Looking Statements
This communication includes “forward-looking statements”
within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,”
“forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,”
“seek,” “target,” “continue,” “could,” “may,” “might,” “possible,”
“potential,” “predict” or other similar expressions that predict or indicate future events or trends or that are
not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates
and forecasts of financial and operational metrics, projections of market opportunity, market share and product sales, expectations and
timing related to commercial product launches, including the start of production and launch of the Lucid Air and any future products,
the performance, range, autonomous driving and other features of the Lucid Air, future market opportunities, including with respect to
energy storage systems and automotive partnerships, future manufacturing capabilities and facilities, future sales channels and strategies,
future market launches and expansion, potential benefits of the proposed business combination and PIPE investment (collectively, the “proposed
transactions”) and the potential success of Lucid’s go-to-market strategy, and expectations related to the terms and timing
of the proposed transactions. These statements are based on various assumptions, whether or not identified in this communication, and
on the current expectations of Lucid’s and CCIV’s management and are not predictions of actual performance. These forward-looking
statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as,
a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult
or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Lucid and CCIV.
These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business,
market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the proposed transactions,
including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that
could adversely affect the combined company or the expected benefits of the proposed transactions or that the approval of the shareholders
of CCIV or Lucid is not obtained; the outcome of any legal proceedings that may be instituted against Lucid or CCIV following announcement
of the proposed transactions; failure to realize the anticipated benefits of the proposed transactions; risks relating to the uncertainty
of the projected financial information with respect to Lucid, including conversion of reservations into binding orders; risks related
to the timing of expected business milestones and commercial launch, including Lucid’s ability to mass produce the Lucid Air and
complete the tooling of its manufacturing facility; risks related to the expansion of Lucid’s manufacturing facility and the increase
of Lucid’s production capacity; risks related to future market adoption of Lucid’s offerings; the effects of competition and
the pace and depth of electric vehicle adoption generally on Lucid’s future business; changes in regulatory requirements, governmental
incentives and fuel and energy prices; Lucid’s ability to rapidly innovate; Lucid’s ability to deliver Environmental Protection
Agency (“EPA”) estimated driving ranges that match or exceed its pre-production projected driving ranges; future changes to
vehicle specifications which may impact performance, pricing, and other expectations; Lucid’s ability to enter into or maintain
partnerships with original equipment manufacturers, vendors and technology providers; Lucid’s ability to effectively manage its
growth and recruit and retain key employees, including its chief executive officer and executive team; Lucid’s ability to establish
its brand and capture additional market share, and the risks associated with negative press or reputational harm; Lucid’s ability
to manage expenses; Lucid’s ability to effectively utilize zero emission vehicle credits; the amount of redemption requests made
by CCIV’s public shareholders; the ability of CCIV or the combined company to issue equity or equity-linked securities in connection
with the proposed transactions or in the future; the outcome of any potential litigation, government and regulatory proceedings, investigations
and inquiries; and the impact of the global COVID-19 pandemic on Lucid, CCIV, the combined company’s projected results of operations,
financial performance or other financial metrics, or on any of the foregoing risks; and those factors discussed under the heading “Risk
Factors” in the Registration Statement and CCIV’s Annual Report on Form 10-K for the year ended December 31, 2020,
as well as other documents of CCIV filed, or to be filed, with the SEC. If any of these risks materialize or our assumptions prove incorrect,
actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that
neither Lucid nor CCIV presently know or that Lucid and CCIV currently believe are immaterial that could also cause actual results to
differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid’s and CCIV’s
expectations, plans or forecasts of future events and views as of the date of this communication. Lucid and CCIV anticipate that subsequent
events and developments will cause Lucid’s and CCIV’s assessments to change. However, while Lucid and CCIV may elect to update
these forward-looking statements at some point in the future, Lucid and CCIV specifically disclaim any obligation to do so. These forward-looking
statements should not be relied upon as representing Lucid’s and CCIV’s assessments as of any date subsequent to the date
of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.