Lucid raises ~$1.65B in combined public offering and private placement led by Ayar

Lucid Group, Inc.

Ayar Third Investment Company agrees to buy 374.7M shares for ~$971M in private placement; closing Oct 31, 2024.
Lucid to issue 262.4M shares in public offering via BofA Securities for ~$680M net proceeds to company.
Underwriter exercises overallotment option for additional 15.0M shares on Oct 17, 2024.
Ayar to maintain ~58.8% ownership by purchasing proportionate shares; also buys from overallotment.

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