Lucid Group, Inc. announced that it expects to receive $750.000004 million in funding from Ayar Third Investment Company, SMB Holding Corporation

Published: 2026-04-14 09:50:47 ET LCID

Published on 04/14/2026 at 09:50 am EDT

Lucid Group, Inc. has entered into an agreement to issue 55,000 Series C convertible preferred stock at the price of $10,000 per share for the gross proceeds of $550,000,000 and 24,038,462 Class A Common Stock at the price of $8.32 per share for the gross proceeds of $200,000,003.84 for the total aggregates of $750,000,003.84 on April 14, 2026. The transaction involves the returning investor of Ayar Third Investment Company for 55,000 preferred stock, SMB Holding Corporation for 24,038,462 shares. The preferred stock are 100% convertible into 50,850,000 common shares of the company at a conversion price value of $10.8160 per share and carry interest rate of 9%.

The offering is expected to close on April 15, 2026. All the securities issued under the offering is subject to a hold period of 12 months from date of issuance and 18 months from date of issuance.