Lucid Group announces preliminary Q3 results and public offering of common stock, with PIF affiliate investment

Lucid Group, Inc.

Preliminary Q3 2024 revenue estimated between $199M and $200M, and loss from operations between $765M and $790M.
Vehicle production of 1,805 units and deliveries of 2,781 units in Q3 2024.
Public offering of 262,446,931 shares commenced; underwriter option for additional 39,367,040 shares.
Majority stockholder Ayar to purchase 374,717,927 shares in concurrent private placement, maintaining ~58.8% ownership.

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