Lucid Group (LCID) Announces PIF Commitment of $1.5B
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Lucid Group, Inc. Announces Public Investment Fund Commitment of $1.5 Billion
August 5, 2024 4:05 PM EDT$750 Million Convertible Preferred Investment and $750 Million Delayed Draw Term Loan
NEWARK, Calif., Aug. 5, 2024 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID) ("Lucid") announced today that it has entered into agreements with its majority stockholder, Ayar Third Investment Company ("Ayar"), an affiliate of the Public Investment Fund ("PIF"), to (i) purchase $750 million of convertible preferred stock via private... More
