---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-041218"
form_type: "8-K"
ticker: "LCID"
cik: "0001811210"
company_name: "Lucid Group, Inc."
filed_at: "2024-03-29T23:59:59+00:00"
generated_at: "2026-06-04T05:30:30.562541+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-24-041218
- form_type: 8-K
- ticker: LCID
- cik: 0001811210
- company_name: Lucid Group, Inc.
- filed_at: 2024-03-29T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1811210/000110465924041218/0001104659-24-041218-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1811210/000110465924041218/tm2410184d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-041218
- JSON: https://secwatch.observer/filing/0001104659-24-041218.json
- Plain text: https://secwatch.observer/filing/0001104659-24-041218.txt

## Key facts
- Governance Changes
  Lucid Group, Inc.: Item 5.03 cross-referenced to Item 1.01 but the excerpt does not describe the amendment content.
  source text: The information contained in Item 1.01 of this Current Report is incorporated by reference into this Item 5.03.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1811210/000110465924041218/0001104659-24-041218-index.htm

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