Lucid Group (LCID) Enters $600M ATM Offering, and $915M in Additional Investment from PIF

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Go back to Lucid Group (LCID) Enters $600M ATM Offering, and $915M in Additional Investment from PIF

Lucid Group, Inc. Announces $600 Million ATM Program and Additional Investment of up to $915 Million by an Affiliate of PIF

November 8, 2022 5:20 PM EST

NEWARK, Calif., Nov. 8, 2022 /PRNewswire/ -- Lucid Group, Inc. (Nasdaq: LCID; "Lucid") announced today that it has entered into an "at-the-market" program pursuant to an equity distribution agreement, dated November 8, 2022, between the Company and BofA Securities, Inc., Barclays Capital Inc. and Citigroup Global Markets Inc. as managers. Under the at-the-market program, Lucid may sell up to $600 million of shares of its common stock through the managers. Such sales could be made through ordinary brokers' transactions, to or through a market maker, in privately negotiated transactions, in block trades, in transactions that are deemed to be "at-the-market... More