Lucid CEO Says $1.67B Equity Raise Provides Automaker With Cash Runway "Well Into 2026"
Portfolio Pulse from Benzinga Newsdesk
Lucid Motors has raised $1.67 billion in equity, providing the company with sufficient cash to operate until 2026, according to CEO Peter Rawlinson. This financial move is expected to support Lucid's growth and operational plans.
October 21, 2024 | 7:06 pm
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Lucid Motors has successfully raised $1.67 billion in equity, which will provide the company with a cash runway until 2026. This move is crucial for supporting its growth and operational plans.
The equity raise of $1.67 billion significantly strengthens Lucid's financial position, providing a clear path for operations and growth until 2026. This is likely to boost investor confidence and positively impact the stock price in the short term.
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