CIIC is ready for an equal measured move higherWe are at 0.618 retracement, going to Fib 1.618, sitting on trendline support
Price target 47$
Ciig
Please help one this / why CIIG is valued 750M ?Arrival confirms that it entered into a definitive business combination agreement with CIIG Merger Corp. (NASDAQ:CIIC) in a SPAC deal. and the newly combined company will be listed on the NASDAQ under the new ticker symbol ARVL.
The transaction values the combined company at an enterprise value of $5.4B and is expected to provide gross cash proceeds of around $660M to the company. As part of the transaction, CIIG raised a $400M fully committed common stock PIPE that was anchored by Fidelity, Wellington Management, BNP Paribas Asset Management Energy Transition Fund and funds/accounts managed by BlackRock
Can you please tell me why CIIG is currently trading at 750m USD while the reverse merger with Arrival will value it at 5 bn USD ?
I guess CIIG will absorbe Arrival and change its name to ARVL , correct
Do you have any idea? as if the combined value will be 5 bn the share will do 5 fold at least
Someone knows the terms of this reverse merge and the ratio of exchange of shares ?
Much appreciated
