EV Startup Lucid Risks SPAC Deal Collapse on No-Show Holders (2)

The blank-check company seeking to buy electric-car startup Lucid Motors Inc. made a last-minute appeal for retail shareholders to vote for the deal amid signs that it’s struggling to win their approval.

Churchill Capital Corp. IV, the special purpose acquisition company started by investment banker Michael Klein, adjourned its Thursday shareholder meeting that was to determine the fate of the merger, pushing the decision back to the following day. It also appealed again in a new statement for shareholders to sign off on the deal. Churchill’s shares fell as much as 4.8% before retracing about half the loss. ...