Lucid raises $750M from PIF affiliate via Series B Convertible Preferred Stock

Lucid Group, Inc.

Ayar purchased 75,000 shares of Series B Convertible Preferred Stock for $750M on Aug 16, 2024.
Shares are convertible into common stock; PIF affiliate remains majority shareholder.
Fourth IRA Amendment grants registration rights for the new shares and waives prior registration deadline.

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