Lucid closes $550M preferred stock sale to PIF affiliate, issues Series C convertible shares

Filed April 29, 2026 · Period ending April 28, 2026 · ~1 min read

Key Changes

• high

  Lucid raised $550 million by selling 55,000 Series C convertible preferred shares at $10,000 each to Ayar, an affiliate of Saudi Arabia's Public Investment Fund and the company's majority shareholder.

  Item 1.01 verify on EDGAR →
• high

  The new Series C preferred stock was established through a Certificate of Designations filed with Delaware on April 28, 2026, defining conversion terms, voting rights, and dividend preferences.

  Item 5.03 verify on EDGAR →
• medium

  Lucid amended its Investor Rights Agreement with Ayar for the seventh time, granting registration rights for the Series C shares and any common stock issued upon conversion.

  Item 1.01 verify on EDGAR →