Lucid Group, Inc. Announces Public Offering Of 173,544,948 Shares Of Common Stock And Corresponding Investment By An Affiliate Of PIF For Aggregate Expected Gross Proceeds Of ~$3.0B
Portfolio Pulse from Happy Mohamed
Lucid Group announces a public offering of 173,544,948 shares of common stock, expecting to raise $3.0 billion. Additionally, its majority stockholder, Ayar Third Investment Company, will purchase 265,693,703 shares for $1.8 billion in a private placement.
May 31, 2023 | 9:00 pm
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Lucid Group's public offering and private placement may raise $3.0 billion and $1.8 billion respectively, potentially impacting its stock price.
The public offering and private placement will raise significant capital for Lucid Group, which may be used for general corporate purposes, including capital expenditures and working capital. This influx of capital could positively impact the company's financial position and potentially lead to an increase in its stock price.
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