Lucid prices $875M (upsized to $975M) of 7% convertible notes due 2031, repurchases $755.7M of 2026 notes

Lucid Group, Inc.

Net proceeds ~$962.4M after full exercise of $100M option; used $752.2M to repurchase $755.7M of 1.25% notes due 2026.
Initial conversion price $20.81/share (22.5% premium over Nov 11 close of $16.99); notes mature Nov 1, 2031.
7.00% interest, semi-annual; redeemable after Nov 6, 2028 at option if stock price exceeds 130% of conversion price.
Ayar (PIF subsidiary) entered prepaid forward to purchase ~$636.7M of LCID common stock, settled near note maturity.
Remaining net proceeds to be used for general corporate purposes; notes offered in Rule 144A private placement.

item 1.01 item 8.01 item 2.03 item 3.02 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 0.9

Lucid Group, Inc. issued convertible note to qualified institutional buyers for $975,000,000 aggregate principal amount.

Security: convertible note
Purchaser: qualified institutional buyers
Consideration: $975,000,000 aggregate principal amount

Exact text from the filing

with the Base Notes, the “ notes ”). On November 12, 2025, the initial purchasers elected to exercise the option to purchase the Additional Notes in full, and a total of $975,000,000 aggregate principal amount of notes were issued on November 17, 2025. The notes were offered only to persons reasonably believed to be qualified institutional buyers (as defined

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Lucid Group, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-25-052593

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