Lucid secures $550M private placement from PIF affiliate Ayar via Series C Convertible Preferred

Lucid Group, Inc.

Ayar purchased 55,000 shares of Series C Convertible Preferred Stock for $550M on April 28, 2026.
Ayar is an affiliate of Saudi Arabia's Public Investment Fund (PIF), Lucid's majority shareholder.
Issuance was exempt from registration under Securities Act Section 4(a)(2).
Seventh Amendment to Investor Rights Agreement grants Ayar registration rights for the new shares.
Certificate of Designations for Series C Convertible Preferred filed with Delaware Secretary of State.

item 1.01 item 3.02 item 3.03 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.95

Lucid Group, Inc. issued 55,000 shares of its Series C Convertible Preferred Stock of preferred stock to Ayar Third Investment Company for $550,000,000.

Security: preferred stock
Shares: 55,000 shares of its Series C Convertible Preferred Stock
Purchaser: Ayar Third Investment Company
Consideration: $550,000,000

Exact text from the filing

As previously announced, on April 14, 2026, Lucid Group, Inc. (the “ Company ”) entered into a subscription agreement (the “ Subscription Agreement ”) between the Company, and Ayar Third Investment Company, a single shareholder limited liability company organized under the laws of the Kingdom of Saudi Arabia (“ Ayar ”), an affiliate of the Public Investment Fund (“ PIF ”) and the Company’s majority shareholder. Pursuant to the Subscription Agreement, on April 28, 2026 (the “ Closing Date ”), Ayar purchased from the Company 55,000 shares of its Series C Convertible Preferred Stock, par value $0.0001 per share (the “ Convertible Preferred Stock ”) for an aggregate purchase price of $550,000,000 in a private placement (the “ Private Placement ”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Lucid Group, Inc. entered into Seventh IRA Amendment with Ayar Third Investment Company (effective 2026-04-28).

Action: entry
Counterparty: Ayar Third Investment Company
Effective: 2026-04-28

Exact text from the filing

On the Closing Date, the Company entered into an amendment to the Investor Rights Agreement, dated as of February 22, 2021, by and among the Company, Ayar and the other parties thereto, as amended from time to time (the “ Investor Rights Agreement ” and the amendment, the “ Seventh IRA Amendment ”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Lucid Group, Inc. entered into Subscription Agreement with Ayar Third Investment Company valued at $550,000,000 (effective 2026-04-14).

Action: entry
Agreement: equity purchase
Counterparty: Ayar Third Investment Company
Value: $550,000,000
Effective: 2026-04-14

Exact text from the filing

on April 14, 2026, Lucid Group, Inc. (the “ Company ”) entered into a subscription agreement (the “ Subscription Agreement ”) between the Company, and Ayar Third Investment Company

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Lucid Group, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-26-051606

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