Business
Lucid Group, Inc. Announces Registered Public Offering of Common Stock; Total Raise of Approximately $1.05 Billion with Previously Announced Investments from Uber and PIF
Lucid prices its $300 million registered offering of common stockUber to increase its total investments in Lucid to $500 million Ayar Third Investment
About this update from Lucid Group, Inc.
[{"type":"text","content":"Lucid prices its $300 million registered offering of common stockUber to increase its total investments in Lucid to $500 million Ayar Third Investment Company, an affiliate of the Public Investment Fund, to purchase $550 million of Lucid's convertible preferred stockNEWARK, Calif., April 14, 2026 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced electric vehicles, today announced pricing of its underwritten public offering of its common stock for gross proceeds of $300 million. The underwritten offering is expected to close on or about April 15, 2026, subject to customary closing conditions.\n \n \n \n \n \n \n \nAs previously announced earlier today, Uber will increase its purchase commitment to at least 35,000 Lucid vehicles designed exclusively for use as part of Uber's future global robotaxi service. Uber has also committed to an additional $200 million investment in Lucid, raising Uber's total investments to $500 million to date. Ayar Third Investment has also committed a new investment of $550 million of convertible preferred stock, further strengthening the strategic partnership between the PIF and Lucid. Together with the gross proceeds from the underwritten offering, the total raise for these transactions is expected to be approximately $1.05 billion.BofA Securities is acting as the sole underwriter for the underwritten offering.The underwritten offering is being made pursuant to Lucid's effective shelf registration statement on Form S-3ASR, including a base prospectus, filed with the Securities and Exchange Commission (the \"SEC\"), and a prospectus supplement relating to the underwritten offering. Prospective investors should read the prospectus supplement and the accompanying base prospectus in that registration statement and other documents that Lucid has filed or will file with the SEC for information about Lucid and the underwritten offering. You may obtain these documents for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, copies of the prospectus supplement and the base prospectus may be obtained from BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email at [email protected] press release does not constitute an offer to sell or the solicitation of an offer to...