secwatch.observer — SEC 8-K summary
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Issuer:     Lucid Group, Inc. (LCID)
CIK:        0001811210
Form:       8-K
Filed at:   2024-03-29T23:59:59+00:00
Accession:  0001104659-24-041218
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1811210/000110465924041218/0001104659-24-041218-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1811210/000110465924041218/tm2410184d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-041218

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer