Lucid raises $1B via convertible preferred stock sale to PIF affiliate Ayar

Lucid Group, Inc.

Sold 100,000 shares of Series A Convertible Preferred Stock to Ayar for $1B on March 29, 2024.
Ayar is an affiliate of Public Investment Fund (PIF), Lucid's majority shareholder.
Shares issued under a Certificate of Designations filed with Delaware Secretary of State.
Third IRA Amendment grants Ayar piggy-back and shelf registration rights for the new shares.
Transaction exempt from registration under Section 4(a)(2) of the Securities Act.

item 1.01 item 3.02 item 3.03 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.4

Lucid Group, Inc.: Item 5.03 cross-referenced to Item 1.01 but the excerpt does not describe the amendment content.

Exact text from the filing

The information contained in Item 1.01 of this Current Report is incorporated by reference into this Item 5.03.

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Lucid Group, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-041218

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