---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-068017"
form_type: "8-K"
ticker: "LCID"
cik: "0001811210"
company_name: "Lucid Group, Inc."
filed_at: "2023-06-05T23:59:59+00:00"
generated_at: "2026-06-14T07:30:01.709396+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Lucid raises $3B in equity: $1.8B private placement to Ayar and $1.2B public offering

## Summary
- Ayar (PIF affiliate) to buy 265.7M shares for ~$1.8B, keeping ~60.5% ownership.
- Public offering of 173.5M shares for ~$1.2B net proceeds via BofA Securities.
- Total net proceeds ~$3.0B; private placement closing expected June 26, 2023.
- Ayar receives registration rights for Placement Shares through Second IRA Amendment.
- Funds to support Lucid's operations and growth; underwriter indemnification provided.

## SEC filing metadata
- accession: 0001104659-23-068017
- form_type: 8-K
- ticker: LCID
- cik: 0001811210
- company_name: Lucid Group, Inc.
- filed_at: 2023-06-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1811210/000110465923068017/0001104659-23-068017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1811210/000110465923068017/tm2317789d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-068017
- JSON: https://secwatch.observer/filing/0001104659-23-068017.json
- Plain text: https://secwatch.observer/filing/0001104659-23-068017.txt

## Key facts
- Material Agreements
  Lucid Group, Inc. entered into Subscription Agreement with Ayar Third Investment Company valued at approximately $1.8 billion (effective 2023-05-31).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Ayar Third Investment Company
  - Value: approximately $1.8 billion
  - Effective: 2023-05-31
  source text: On May 31, 2023, Lucid Group, Inc. (the “ Company ”) entered into a subscription agreement, dated May 31, 2023 (the “ Subscription Agreement ”), between the Company and Ayar Third Investment Company, a single shareholder limited liability company organized under the laws of the Kingdom of Saudi Arabia (“ Ayar ”), an affiliate of the Public Investment Fund and the Company’s majority shareholder.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1811210/000110465923068017/0001104659-23-068017-index.htm
- Material Agreements
  Lucid Group, Inc. amended Second IRA Amendment with Ayar Third Investment Company (effective 2023-05-31).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: Ayar Third Investment Company
  - Effective: 2023-05-31
  source text: On May 31, 2023, concurrently with entering into the Subscription Agreement, the Company entered into an amendment to the Investor Rights Agreement (the “ Second IRA Amendment ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1811210/000110465923068017/0001104659-23-068017-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.