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Get filing alertsLucid registers 55K Series C preferred and 75.7M common shares for resale to PIF, Uber
Filed August 12, 2026 · Period ending August 12, 2026 · ~1 min read
Key Changes
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Registered 55,000 Series C preferred shares issued to Ayar (PIF affiliate) and up to 51.7M common shares from conversion, plus 24M common shares issued to SMB (Uber subsidiary) in April 2026 private placements.
Item 8.01 verify on EDGAR → -
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SMB shares locked until October 2027; Ayar preferred and conversion shares locked until April 2027. Registration fulfills contractual obligations but does not trigger immediate sales.
Exhibit 99.1 view on EDGAR →
Summary
Lucid filed a resale registration for securities issued to two strategic investors in April 2026 private placements.
The registration covers 55,000 Series C Convertible Preferred shares held by Ayar Third Investment Company (an affiliate of Saudi Arabia's Public Investment Fund), up to 51.7 million common shares that could result from converting those preferred shares, and 24 million common shares issued directly to SMB Holding Corporation (an Uber subsidiary).
No new shares are being issued; the filing fulfills contractual registration obligations from the original placements. The registration does not mean these holders will sell immediately. SMB's common shares are locked until October 2027, and Ayar's preferred stock and any conversion shares are locked until April 2027. The lock-ups limit near-term dilution risk from these large strategic shareholders. Retail holders should monitor whether these investors begin selling after their restrictions expire, as the combined 75.7 million common shares (on an as-converted basis) represent meaningful potential supply.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
SMB is subject to transfer restrictions with respect to its shares until October 2027, and Ayar is subject to transfer restrictions with respect to its Series C Convertible Preferred Stock and any shares of Class A Common Stock issuable upon conversion thereof until April 2027.
The registered shares are subject to lock-up restrictions. SMB (Uber subsidiary) cannot transfer its Class A Common Stock until October 2027, and Ayar (PIF affiliate) cannot transfer its Series C Convertible Preferred Stock or any common stock issued upon conversion until April 2027. Registration does not mean these holders will sell; the restrictions limit near-term dilution risk from these large shareholders.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 14, 2026 · How we verify