Lucid Group, Inc. (LCID): debt financing — Lucid prices $1.1B 5% convertible notes due 2030; buys back $1.05B of 2026 notes

Lucid Group, Inc.

Issued $1.1B aggregate principal of 5.00% convertible notes due 2030, including $100M option exercise by underwriters.
Net proceeds ~$1.082B; used ~$935.6M to repurchase ~$1.0525B of outstanding 1.25% convertible notes due 2026 at a discount.
Capped call transactions cover ~366.7M shares with initial cap price $4.80/share to reduce dilution upon conversion.
Ayar (PIF subsidiary) entered prepaid forward to purchase ~$430M of LCID common stock, settling near note maturity.
New notes mature April 1, 2030; conversion price ~$3.00/share (25% premium to last sale of $2.40); redeemable after April 2028.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Lucid Group, Inc. incurred convertible notes of $1,100,000,000 aggregate principal amount with initial purchasers at 5.00% per annum maturing April 1, 2030.

Instrument: convertible notes
Principal: $1,100,000,000 aggregate principal amount
Counterparty: initial purchasers
Rate: 5.00% per annum
Maturity: April 1, 2030
Event: incurrence

Exact text from the filing

together with the Base Notes, the “ notes ”). On April 3, 2025, the initial purchasers elected to exercise the option to purchase the Additional Notes in full, and a total of $1,100,000,000 aggregate principal amount of notes were issued on April 8, 2025. The notes were offered only to persons reasonably believed to be qualified institutional buyers (as defined in

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Lucid Group, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-033017

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