SPACs offer a quicker, easier, more secretive way to take a private company public versus the conventional initial public offering, or IPO. AdvertisementHe was speaking generally, but elements of the Lucid deal merit a closer look. Lucid drew the Saudi fund money in the nick of time. The Saudi Public Investment Fund helped finance the Sadara deal. Whatever money the Saudi wealth fund lost on Sadara, it might earn some back through the Lucid SPAC.

Source: Los Angeles Times January 22, 2021 13:04 UTC