---
schema_version: "secwatch.filing_event.v1"
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"
generated_at: "2026-05-23T19:07:54.117588+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Lucid prices $1.1B 5% convertible notes due 2030; buys back $1.05B of 2026 notes

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1811210/000110465925033017/0001104659-25-033017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1811210/000110465925033017/tm2511638d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-033017
- JSON: https://secwatch.observer/filing/0001104659-25-033017.json
- Plain text: https://secwatch.observer/filing/0001104659-25-033017.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.