California electric vehicle maker Lucid has strongly denied a report released on July 14 that the company is going to be advised on, or is considering, a take-private transaction or filing for Chapter 11 bankruptcy after its shares fell more than 50 percent.
“We generally do not comment on rumors,” Lucid CEO Silvio Napoli said in a statement on Wednesday. “But the claims circulated yesterday were so far from the facts that they require a direct response. Lucid is not considering bankruptcy or a transaction to take the company private.”
The claims came from a report posted by news outlet Electric Vehicles (EV) that said Lucid’s restructuring adviser AlixPartners had been asked to deliver findings for the automaker’s board ahead of its next meeting, and were reviewing a take-private deal and bankruptcy, among other options. The blog cited an anonymous source that it said was familiar with the matter….