Lucid Group, Inc. Announces Effective Date of Reverse Stock Split

About this update from Lucid Group, Inc.

[{"type":"text","content":"Lucid common stock expected to begin trading on a split-adjusted basis on September 2, 2025\nNEWARK, Calif., Aug. 21, 2025 /PRNewswire/ -- Lucid Group, Inc. (\"Lucid\" or the \"Company\") (NASDAQ: LCID), maker of the world's most advanced electric vehicles, today announced that it will proceed with a 1-for-10 reverse stock split of its shares of common stock (the \"Reverse Stock Split\") and a corresponding reduction of its authorized shares of common stock (the \"Authorized Share Reduction\") following approval by its Board of Directors. The Reverse Stock Split and Authorized Share Reduction were previously approved by the Company's stockholders at a special meeting of stockholders held on August 18, 2025.\n\n \n \n \n \n \n \n\n \nThe Reverse Stock Split and Authorized Share Reduction are expected to be effective at 5:00 p.m., Eastern Time on August 29, 2025 (the \"Effective Time\"). The Company's common stock is expected to begin trading on a split-adjusted basis under the same symbol (LCID) when the market opens on September 2, 2025, with the new CUSIP number 549498 202.\nAs of the Effective Time, every 10 issued and outstanding shares of the common stock will be automatically reclassified into one issued and outstanding share of the Company's common stock. This will reduce the number of shares outstanding from approximately 3,072.6 million to approximately 307.3 million, subject to adjustment for fractional shares. The number of authorized shares of common stock will be reduced from 15 billion to 1.5 billion to reflect the Reverse Stock Split. The Reverse Stock Split will not affect the par value of the common stock. No fractional shares will be issued in connection with the Reverse Stock Split. Holders of common stock will receive a cash payment (without interest) in lieu of any fractional shares.\nEquiniti Trust Company, LLC is acting as the exchange agent for the Reverse Stock Split. Registered stockholders holding pre-split shares of the Company's common stock are not required to take any action to receive post-split shares. Stockholders owning shares via a broker, bank, trust or other similar organization will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to such organization's particular processes, and will not be required to take any action in connection with the Reverse Stoc...

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