---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-034724"
form_type: "8-K"
ticker: "LCID"
cik: "0001811210"
company_name: "Lucid Group, Inc."
filed_at: "2024-08-05T23:59:59+00:00"
generated_at: "2026-05-31T13:12:31.591826+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Lucid secures $1.5B total financing from PIF affiliate via convertible preferred and delayed draw term loan

## Summary
- Ayar (PIF affiliate) to buy $750M Series B convertible preferred stock, convertible into ~171M shares at $4.3799/share.
- Lucid also enters $750M unsecured delayed draw term loan from Ayar, maturing 2029, with SOFR+5.75% interest rate.
- Preferred stock pays 9% PIK dividend; mandatory conversion possible after 3 years if stock hits 200% of conversion price.
- Term loan includes $1B minimum liquidity covenant; no draws made as of filing date.
- Ayar subject to 12-month lock-up on preferred shares; investor rights agreement amended for registration rights.

## SEC filing metadata
- accession: 0001628280-24-034724
- form_type: 8-K
- ticker: LCID
- cik: 0001811210
- company_name: Lucid Group, Inc.
- filed_at: 2024-08-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1811210/000162828024034724/0001628280-24-034724-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1811210/000162828024034724/lcid-20240804.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-034724
- JSON: https://secwatch.observer/filing/0001628280-24-034724.json
- Plain text: https://secwatch.observer/filing/0001628280-24-034724.txt

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