Lucid Group, Inc. (Lucid) has announced the offering of 262,446,931 shares of its Class A common stock, with par value $0.0001 per share. The common stock is listed on the Nasdaq Global Select Market under the symbol 'LCID.' The offering is concurrent with a private placement in which Ayar Third Investment Company (Ayar), an affiliate of the Public Investment Fund (PIF) and majority stockholder, has agreed to purchase 374,717,927 shares of common stock, subject to certain conditions. This private placement is referred to as the 'Ayar Investment.' The completion of the Ayar Investment is contingent upon the completion of the public offering and other customary closing conditions. The underwriter for the public offering is BofA Securities, Inc. Lucid expects to settle the Ayar...Show More

Lucid Group, Inc. (Lucid) has announced the offering of 262,446,931 shares of its Class A common stock, with par value $0.0001 per share. The common stock is listed on the Nasdaq Global Select Market under the symbol 'LCID.' The offering is concurrent with a private placement in which Ayar Third Investment Company (Ayar), an affiliate of the Public Investment Fund (PIF) and majority stockholder, has agreed to purchase 374,717,927 shares of common stock, subject to certain conditions. This private placement is referred to as the 'Ayar Investment.' The completion of the Ayar Investment is contingent upon the completion of the public offering and other customary closing conditions. The underwriter for the public offering is BofA Securities, Inc. Lucid expects to settle the Ayar Investment on or about October 31, 2024, for an approximate aggregate purchase price of $970.2 million, after expenses. The net proceeds from the public offering and the Ayar Investment are intended for general corporate purposes, which may include capital expenditures and working capital. The announcement was made on October 16, 2024, and the last reported sale price of Lucid's common stock on that date was $3.28 per share.