Initially, CCIV was calling for a $65 per share price upon the debut of the merged company’s stock. However, the company has since pulled back to a number in the $40–$50 range. After announcing the higher price, the shares fell a staggering 60 percent, which showed that investors didn’t like the calculation. The updated price is more closely aligned with the existing CCIV stock, which opened on March 11 at $25.86. The stock hit a high of $58.05 on Feb. 18. However, it’s still high above the $10 SPAC standard.
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