InvestmentApr 14, 2026, 12:49 PM
Lucid Group Secures $750M in Private Placements
AI Summary
Lucid Group, Inc. announced it has secured $750 million through two private placements. Ayar Third Investment Company, an affiliate of the Public Investment Fund, agreed to purchase $550 million of Lucid's Series C Convertible Preferred Stock. Additionally, SMB Holding Corporation, a subsidiary of Uber Technologies, Inc., committed to purchase $200 million of Lucid's Class A common stock, further strengthening the partnership between Lucid and Uber. These placements are expected to close around April 15, 2026, subject to customary conditions.
Key Highlights
- Lucid Group secured $750 million through two private placements.
- PIF affiliate Ayar to invest $550 million in Series C Convertible Preferred Stock.
- Uber subsidiary SMB to invest $200 million in Class A common stock.
- Uber investment further deepens the relationship with Lucid.
- Placements are expected to close around April 15, 2026.