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

Machine-readable event card

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accession: 0001104659-25-033017
form_type: 8-K
ticker: LCID
cik: 0001811210
company_name: Lucid Group, Inc.
filed_at: 2025-04-08T23:59:59+00:00
discovered_at: 2026-05-14T18:02:49.822778+00:00
generated_at: 2026-05-23T19:07:54.117588+00:00
sec_items: ["1.01", "2.03", "3.02", "8.01", "9.01"]
event_type: debt
sentiment: neutral
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: high
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edgar_index_url: https://www.sec.gov/Archives/edgar/data/1811210/000110465925033017/0001104659-25-033017-index.htm
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