Lucid Group (LCID) CEO Silvio Napoli said Thursday on Bloomberg Television that the company finalized its work with restructuring advisers.
Lucid's work with AlixPartners concluded after the adviser was brought in to help the electric-vehicle maker achieve $1.4 billion in cash savings this year, the report said.
Lucid shares rose 7.5% in Thursday trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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