InvestmentApr 14, 2026, 07:16 AM
Lucid Raises $750M via Private Placements from PIF & Uber
AI Summary
Lucid Group, Inc. announced it will raise $750 million through two private placements. Ayar Third Investment Company, an affiliate of the Public Investment Fund (PIF), agreed to purchase $550 million of Lucid's Series C Convertible Preferred Stock. Additionally, SMB Holding Corporation, a subsidiary of Uber Technologies, Inc., will purchase $200 million of Lucid's Class A common stock, further strengthening the relationship between the companies.
Key Highlights
- Lucid to raise $750 million through private placements.
- PIF affiliate, Ayar, to invest $550 million in Convertible Preferred Stock.
- Uber subsidiary, SMB, to invest $200 million in Class A common stock.
- Uber investment deepens relationship with Lucid.
- Placements are subject to customary closing conditions.