NASDAQ
7 hours, 53 minutes ago 
LCID
Lucid Group, INC
8-K: Electric Vehicle Maker Secures Major Robotaxi Order and Strategic Investment
Lucid Group, Inc. has entered into a significant Vehicle Production Agreement with Uber Technologies, Inc. for 20,000 Lucid Gravity Plus vehicles and secured a $300 million private placement from an Uber subsidiary to fund autonomous vehicle development.
Capital raise
 
Better than expected
 
NASDAQ
7 hours, 58 minutes ago 
LCID
Lucid Group, INC
8-K: Electric Vehicle Maker Proposes 1-for-10 Stock Split
An electric vehicle manufacturer has filed a preliminary proxy statement with the SEC to seek stockholder approval for a one-for-ten reverse stock split aimed at broadening investor appeal.
NASDAQ
14 days, 20 hours ago 
LCID
Lucid Group, INC
8-K: Lucid Group Reports Q2 2025 Production and Delivery Figures, Schedules Earnings Call
Lucid Group, Inc. announced its second quarter 2025 production of 3,863 vehicles and deliveries of 3,309 vehicles, and confirmed the date for its upcoming Q2 2025 financial results conference call.
NASDAQ
26 days, 23 hours ago 
LCID
Lucid Group, INC
Form 4: Lucid Group Interim CEO Marc Winterhoff Granted Significant Equity Award
Lucid Group, Inc. (LCID) Interim CEO Marc Winterhoff was granted 666,666 restricted stock units (RSUs) on June 17, 2025, aligning his incentives with long-term shareholder value.
NASDAQ
26 days, 23 hours ago 
LCID
Lucid Group, INC
Form 4: Lucid Group Executive Eric Bach Receives Significant Restricted Stock Unit Grant
Lucid Group, Inc.'s SVP, Product & Chief Engineer, Eric Bach, was granted 600,000 restricted stock units (RSUs) at a price of $0, vesting over four years.
NASDAQ
26 days, 23 hours ago 
LCID
Lucid Group, INC
Form 4: Lucid Group Executive Gagan Dhingra Granted Over Half Million Restricted Stock Units
Lucid Group, Inc. (LCID) has reported an acquisition of 533,333 Class A Common Stock shares in the form of Restricted Stock Units (RSUs) by Gagan Dhingra, the company's SVP Finance & Accounting and Principal Accounting Officer.
NASDAQ
37 days, 23 hours ago 
LCID
Lucid Group, INC
Form 4: Lucid Group Interim CEO Marc Winterhoff Reports Stock Disposition for Tax Obligations
Lucid Group, Inc.'s Interim CEO, Marc Winterhoff, reported the disposition of 153,384 shares of Class A Common Stock on June 5, 2025, to cover tax withholding obligations related to vested equity awards.
NASDAQ
37 days, 23 hours ago 
LCID
Lucid Group, INC
Form 4: Lucid Group CFO's Stock Transaction: Tax Withholding on RSU Vesting
Lucid Group's Chief Financial Officer, Taoufiq Boussaid, reported a disposition of 179,890 Class A Common Stock shares to satisfy tax obligations related to the vesting of restricted stock units.
NASDAQ
37 days, 23 hours ago 
LCID
Lucid Group, INC
Form 4: Lucid Group SVP Eric Bach Reports Routine Tax-Related Share Disposition
Lucid Group, Inc.'s SVP of Product & Chief Engineer, Eric Bach, reported the disposition of 147,409 Class A Common Stock shares to satisfy tax withholding obligations related to vested equity awards.
NASDAQ
37 days, 23 hours ago 
LCID
Lucid Group, INC
Form 4: Lucid Group SVP Finance & Accounting Reports Stock Disposition for Tax Obligations
Lucid Group, Inc.'s SVP Finance & Accounting, Gagan Dhingra, reported the disposition of 46,818 Class A Common Stock shares on June 5, 2025, primarily to cover tax withholding related to vested restricted stock units.
NASDAQ
37 days, 23 hours ago 
LCID
Lucid Group, INC
Form 4: Lucid Group Director Ori Winitzer Granted Over 108,000 Restricted Stock Units
Lucid Group, Inc. announced that Director Ori Winitzer was granted 108,713 restricted stock units (RSUs) on June 5, 2025, as part of his compensation for continued service on the board.
NASDAQ
37 days, 23 hours ago 
LCID
Lucid Group, INC
Form 4: Lucid Group Director Janet S. Wong Reports Significant RSU Grants
Lucid Group, Inc. Director Janet S. Wong reported the acquisition of 116,765 Class A Common Stock through restricted stock unit grants, increasing her beneficial ownership to 266,876 shares.
NASDAQ
37 days, 23 hours ago 
LCID
Lucid Group, INC
Form 4: Lucid Group Director Lisa Lambert Receives Over 116,000 Restricted Stock Units
Lucid Group, Inc. Director Lisa Marie Lambert was granted 116,765 Class A Common Stock Restricted Stock Units (RSUs) on June 5, 2025, as part of her compensation.
NASDAQ
37 days, 23 hours ago 
LCID
Lucid Group, INC
Form 4: Lucid Group Director Andrew Liveris Reports Acquisition of Over 113,000 Restricted Stock Units
Lucid Group, Inc. Director Andrew N. Liveris has reported the acquisition of 113,544 Class A Common Stock through restricted stock unit grants, increasing his direct beneficial ownership to 798,930 shares.
NASDAQ
37 days, 23 hours ago 
LCID
Lucid Group, INC
Form 4: Lucid Group Director Nichelle Maynard-Elliott Receives Significant Equity Grant
Lucid Group, Inc. Director Nichelle Maynard-Elliott was granted 108,713 restricted stock units, increasing her total beneficial ownership to 258,824 Class A Common Stock shares.
NASDAQ
37 days, 23 hours ago 
LCID
Lucid Group, INC
Form 4: Lucid Group Director Douglas J. Grimm Receives Significant RSU Grant
Lucid Group, Inc. Director Douglas J. Grimm was granted 150,990 restricted stock units (RSUs) on June 5, 2025, which will vest in three equal annual installments.
NASDAQ
40 days, 23 hours ago 
LCID
Lucid Group, INC
Form 4: Lucid Group Director Chabi Nouri Reports Significant RSU Grant and Stock Transactions
Lucid Group Director Chabi Nouri reported recent stock transactions, including the acquisition of over 100,000 restricted stock units and a disposition for tax withholding.
NASDAQ
41 days, 0 hours ago 
LCID
Lucid Group, INC
Form 4: Lucid Group Director and 10% Owner Reports Significant RSU Grants and Tax-Related Share Disposition
Turqi A. Alnowaiser, a Director and 10% owner of Lucid Group, Inc., reported the acquisition of 115,155 Class A Common Stock shares through RSU grants and the disposition of 4,973 shares for tax withholding purposes.
NASDAQ
41 days, 0 hours ago 
LCID
Lucid Group, INC
8-K: Lucid Group Stockholders Approve Expanded Stock Incentive Plan and Re-Elect Board at Annual Meeting
Lucid Group, Inc. announced that its stockholders approved the Amended and Restated 2021 Stock Incentive Plan, increasing shares available for issuance by 184 million, and re-elected all eight director nominees at the 2025 Annual Meeting.
Capital raise
 
NASDAQ
72 days, 0 hours ago 
LCID
Lucid Group, INC
10-Q: Lucid Group Reports Q1 2025 Results: Revenue Up, Losses Persist Amidst Executive Transition
Lucid Group's Q1 2025 shows increased revenue but ongoing losses, coupled with a CEO transition and strategic financial maneuvers.
Worse than expected
 
LCID 
Lucid Group, INC 
NASDAQ

10-Q: Lucid Group Reports Q1 2025 Results: Revenue Up, Losses Persist Amidst Executive Transition

Sentiment:
 Quarterly Report
 6 May 2025 4:09 PM

Lucid Group's Q1 2025 shows increased revenue but ongoing losses, coupled with a CEO transition and strategic financial maneuvers.

Worse than expected
  The company's net loss, while improved year-over-year, still indicates that the company is not profitable.  The company's gross margin is still negative, indicating that the company is selling vehicles at a loss. 

Summary
  • Lucid Group's Q1 2025 revenue increased to $235.0 million from $172.7 million in Q1 2024.
  • The company experienced a net loss of $366.2 million in Q1 2025, compared to $680.9 million in Q1 2024.
  • Lucid's basic and diluted net loss per share attributable to common stockholders was $(0.24) in Q1 2025, compared to $(0.30) in Q1 2024.
  • The company's cash, cash equivalents, and investments totaled $4.53 billion as of March 31, 2025.
  • Lucid issued $1.10 billion in convertible senior notes due in 2030 and repurchased $1.05 billion of its 2026 notes in April 2025.
  • Marc Winterhoff was appointed Interim CEO following Peter Rawlinson's resignation in February 2025.
  • The company acquired select facilities and assets from Nikola Corporation in Arizona in April 2025.
Sentiment

Score: 5

Explanation: The sentiment is neutral. While revenue increased and losses decreased, the company is still not profitable and faces significant challenges. The CEO transition adds uncertainty.

Positives
  • Revenue increased by 36% year-over-year, indicating growing sales and market presence.
  • Net loss decreased significantly, suggesting improved cost management and operational efficiency.
  • The successful issuance of new convertible notes and repurchase of existing debt strengthens the company's financial position.
  • The acquisition of Nikola's facilities expands manufacturing capacity and supports future growth.
  • Lucid has a substantial cash reserve of $4.53 billion, providing financial flexibility.
Negatives
  • The company continues to operate at a net loss, indicating ongoing challenges in achieving profitability.
  • The company is undergoing a CEO transition, which could create uncertainty and disruption.
  • The company is dependent on a limited number of vehicle models for revenue generation.
  • The company is exposed to risks associated with international operations, including unfavorable regulatory, political, tax and labor conditions.
Risks
  • The company's limited operating history and ongoing losses make evaluating its business and future prospects difficult.
  • Failure to attract customers or manage costs could have a material adverse impact on the company's financial performance.
  • A global economic recession or other adverse economic conditions could negatively affect demand for Lucid's vehicles.
  • The company is dependent on a limited number of models and faces intense competition in the electric vehicle market.
  • Delays in the design, manufacture, and launch of new vehicles could harm the company's business and prospects.
  • The company is dependent on single-source suppliers and faces risks related to supply chain disruptions and material costs.
  • The company is subject to evolving laws and regulations related to data privacy and cybersecurity, and any failure to comply could harm its reputation and brand.
  • The company is a controlled company and its stockholders do not have the same protections afforded to stockholders of companies that are not controlled companies.
Future Outlook

Lucid plans to expand its vehicle lineup with the upcoming Midsize platform, scheduled for start of production in late 2026. The company expects that current sources of liquidity together with projection of cash flows from operating activities will provide adequate liquidity for at least the next 12 months.

Industry Context

The announcement reflects the ongoing challenges and strategic shifts within the electric vehicle industry, where companies are balancing growth with cost management and adapting to evolving market conditions and executive leadership.

Comparison to Industry Standards
  • Tesla, as a benchmark, has demonstrated the ability to achieve higher production volumes and profitability, setting a standard for operational efficiency in the EV sector.
  • Rivian and other EV startups are also facing similar challenges in scaling production and managing costs, highlighting the difficulties inherent in the industry.
  • Traditional automakers like GM and Ford are investing heavily in electric vehicle technology, posing a competitive threat to Lucid.
  • Lucid's focus on luxury and technology positions it against high-end models from Porsche and Mercedes-Benz, requiring differentiation through performance and innovation.
  • The company's partnership with Aston Martin is similar to other strategic alliances in the industry, such as Toyota's collaboration with Subaru, aimed at sharing technology and reducing development costs.
Stakeholder Impact
  • Shareholders face potential dilution from future equity issuances and volatility in the stock price.
  • Employees may experience uncertainty due to the CEO transition and potential restructuring.
  • Customers may be affected by delays in vehicle production and delivery.
  • Suppliers may face pressure to reduce costs and meet production targets.
  • Creditors are exposed to risks associated with the company's ability to service its debt.
Next Steps
  • Continue commercial production of Lucid Air and ramp up production of Lucid Gravity.
  • Expand manufacturing capacity and capabilities.
  • Develop and launch the Midsize platform, scheduled for start of production in late 2026.
  • Continue to expand retail studios and service centers.
  • Identify and appoint a new CEO.
Legal Proceedings
  • The company is involved in a securities class action lawsuit and multiple shareholder derivative lawsuits related to alleged false or misleading statements regarding delivery and revenue projections.
  • The company is also involved in a lawsuit filed by the Illinois Automobile Dealers Association regarding direct sales to consumers.
Related Party Transactions
  • Lucid LLC entered into a loan agreement with SIDF, a related party of the PIF.
  • Lucid LLC entered into agreements with MISA, a related party of the PIF, for economic support related to AMP-2.
  • Lucid LLC entered into the GIB Facility Agreement with GIB, a related party of the PIF.
  • Lucid LLC entered into agreements with Al Bawani Company Limited, an affiliate of the PIF, for construction services related to AMP-2.
  • The Company entered into subscription agreements with Ayar, the controlling stockholder of the Company.
  • Lucid LLC entered into a joint cooperation agreement with HRDF, a related party of the PIF.
  • Lucid LLC entered into the EV Purchase Agreement with the Government of Saudi Arabia, a related party of the PIF.
  • The Company entered into an implementation agreement with Aston Martin, a related party of the PIF.
  • The Company entered into a $750.0 million five year DDTL Credit Facility with Ayar.
Key Dates
  • August 3, 2020: Churchill IPO closed
  • July 23, 2021: Closing Date of the Transactions
  • December 14, 2021: Date of indenture between the Company and U.S. Bank National Association as the trustee
  • December 15, 2021: Lucid issued an aggregate of $2,012.5 million principal amount of 1.25% convertible senior notes due December 2026
  • February 27, 2022: Lucid LLC entered into a loan agreement with SIDF
  • April 29, 2022: Lucid LLC entered into the GIB Facility Agreement with GIB
  • June 9, 2022: The ABL Credit Facility has a stated maturity date
  • March 12, 2023: Lucid LLC entered into the 2023 Amended GIB Facility Agreement
  • May 24, 2024: The Company announced a restructuring plan (the 2024 Restructuring Plan)
  • February 24, 2025: Lucid LLC entered into the 2025 GIB Credit Facility
  • February 21, 2025: Peter Rawlinson resigned from his positions and as a member of our Board of Directors
  • April 8, 2025: The Company issued $1.10 billion aggregate principal amount of 5.00% convertible senior notes due in April 2030
Keywords
Lucid, financial results, electric vehicles, revenue, net loss, convertible notes, manufacturing, CEO transition, Q1 2025, LCID
LCID 
Lucid Group, INC 
NASDAQ
Sector: TBD
 
Filings with Classifications
Better than expected
17 July 2025 8:38 AM
Strategic Partnership Announcement
  • Lucid secured a minimum order of 20,000 vehicles, providing a substantial revenue pipeline.
  • A $300 million private placement from Uber's subsidiary provides capital and validates the partnership.
  • The strategic partnership with Uber and Nuro positions Lucid at the forefront of the autonomous robotaxi market.
Capital raise
17 July 2025 8:38 AM
Strategic Partnership Announcement
  • Lucid and SMB Holding Corporation (a subsidiary of Uber) entered into a Subscription Agreement for a private placement.
  • SMB Holding Corporation agreed to purchase Lucid Class A common stock equal to $300 million in cash.
  • The purchase price per share is the arithmetic average of the daily volume-weighted average price of Lucid's common stock over 30 consecutive trading days ending prior to the VPA execution.
  • The private placement is expected to close in Q3 2025, subject to regulatory approvals and customary closing conditions.
  • Proceeds will fund non-recurring engineering costs for the Lucid Gravity Plus vehicles and general corporate purposes.
  • SMB Holding Corporation may not transfer the shares for 18 months after closing.
Capital raise
6 June 2025 4:07 PM
Annual Meeting Results
  • The Amended and Restated 2021 Stock Incentive Plan was approved, increasing the number of shares of Class A common stock available for issuance by 184,000,000 shares. While primarily for compensation, this represents a potential future issuance of equity that could dilute existing shareholders.
Worse than expected
6 May 2025 4:09 PM
Quarterly Report
  • The company's net loss, while improved year-over-year, still indicates that the company is not profitable.
  • The company's gross margin is still negative, indicating that the company is selling vehicles at a loss.
Worse than expected
6 May 2025 4:08 PM
Earnings Release
  • The company reported a GAAP net loss per share of $(0.24) for Q1 2025.
Capital raise
10 April 2025 9:54 PM
Beneficial Ownership Update
  • Lucid Group, Inc. priced an offering of $1,100,000,000 aggregate principal amount of 5.00% convertible senior notes due 2030.
  • The settlement of the issuance of these notes occurred on April 8, 2025.
  • Ayar Third Investment Company entered into a privately negotiated prepaid forward share purchase transaction for $430,000,000.80 in connection with the notes offering, which is intended to facilitate hedging by investors in the notes.
Capital raise
8 April 2025 8:05 PM
Pricing Announcement
  • Lucid Group completed a private offering of $1.1 billion in 5.00% Convertible Senior Notes due 2030.
  • The notes were offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933.
  • The initial purchasers had an option to purchase an additional $100 million in notes, which they exercised in full.
  • Ayar Third Investment Company entered into a prepaid forward transaction to purchase approximately $430.0 million of Lucid's common stock.
Capital raise
2 April 2025 4:22 PM
Capital Raise Announcement
  • Lucid is commencing a private offering of $1,000,000,000 aggregate principal amount of its Convertible Senior Notes due 2030.
  • The initial purchasers of the notes will have an option to purchase up to an additional $100,000,000 aggregate principal amount of the notes.
  • The notes will be offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act.
Capital raise
25 February 2025 4:12 PM
Annual Results
  • The company will require additional capital to support business growth, and this capital might not be available on commercially reasonable terms, or at all.
  • The company is pursuing additional financing through equity, equity-linked, or debt financing in the future.
Worse than expected
25 February 2025 4:12 PM
Annual Results
  • The company reported a net loss of $2.7 billion for the year ended December 31, 2024.
  • The company expects to continue to incur substantial losses and increasing expenses in the foreseeable future.
Delay expected
25 February 2025 4:12 PM
Annual Results
  • The Midsize platform is currently in development, and is scheduled for start of production in late 2026.
Worse than expected
25 February 2025 4:09 PM
Earnings Release
  • Lucid reported a GAAP net loss per share of $(1.25) for the full year 2024, indicating continued losses despite increased production and deliveries.
Worse than expected
7 November 2024 4:10 PM
Quarterly Report
  • The company's net loss of $992.5 million in Q3 2024 and $2.3 billion for the nine months ended September 30, 2024, is worse than expected, despite a 45% increase in revenue.
Capital raise
7 November 2024 4:10 PM
Quarterly Report
  • Lucid completed a public offering and private placement in October 2024, raising approximately $1.7 billion in gross proceeds.
  • The company issued 100,000 shares of Series A Redeemable Convertible Preferred Stock to Ayar for $1.0 billion in March 2024.
  • The company issued 75,000 shares of Series B Redeemable Convertible Preferred Stock to Ayar for $750 million in August 2024.
Worse than expected
7 November 2024 4:07 PM
Quarterly Report
  • The company reported a significant net loss, indicating that it is not yet profitable.
  • The cost of revenue is still significantly higher than the revenue, indicating that the company is not yet efficient in its production.
Capital raise
7 November 2024 4:07 PM
Quarterly Report
  • Lucid completed a capital raise of approximately $1.75 billion in October 2024.
  • The capital raise is intended to extend the company's financial runway well into 2026.
  • The Public Investment Fund and other institutional investors participated in the capital raise.
Capital raise
4 November 2024 6:00 AM
SEC Form 4
  • Lucid Group completed an underwritten public offering of 262,446,931 shares of its Class A common stock for aggregate gross proceeds of approximately $680 million.
  • Ayar Third Investment Company purchased 374,717,927 shares of Issuer Class A common stock in a private placement for an aggregate purchase price of approximately $971 million.
  • Ayar purchased from the Issuer an additional 21,470,459 shares of Common Stock for aggregate purchase price of approximately $56 million in a private placement.
Capital raise
18 October 2024 6:09 AM
Capital Raise Announcement
  • Lucid Group is raising approximately $1.65 billion through a combination of a public offering and a private placement.
  • The private placement with Ayar Third Investment Company will generate approximately $971 million.
  • The public offering is expected to generate approximately $680 million.
  • Ayar will purchase additional shares to maintain its ownership percentage.
Capital raise
16 October 2024 4:42 PM
Capital Raise Announcement and Preliminary Results
  • Lucid is conducting a public offering of 262,446,931 shares of its common stock.
  • Ayar Third Investment Company intends to purchase 374,717,927 shares in a private placement concurrently with the public offering.
  • The underwriter has a 30-day option to purchase up to 39,367,040 additional shares.
  • Ayar intends to purchase additional shares if the underwriter exercises its option to maintain its ownership stake.
Worse than expected
16 October 2024 4:42 PM
Capital Raise Announcement and Preliminary Results
  • The estimated loss from operations of $765 million to $790 million is significant and indicates that the company is not yet profitable.
Better than expected
10 September 2024 9:05 AM
Technology and Manufacturing Day Presentation
  • Lucid has already delivered more cars in 2024 than in all of 2023, indicating better than expected production and delivery numbers.
Capital raise
19 August 2024 9:04 AM
Private Placement Announcement
  • Lucid Group has raised $750 million through the sale of Series B Convertible Preferred Stock to Ayar Third Investment Company.
  • The shares were sold in a private placement.
  • The company may need to raise additional capital in the future to fund its operations and growth.
Capital raise
5 August 2024 4:10 PM
Quarterly Report
  • Lucid issued 100,000 shares of Series A redeemable convertible preferred stock to Ayar for $1.0 billion in gross proceeds.
  • The company entered into a $750 million five-year unsecured delayed draw term loan credit facility with Ayar on August 4, 2024.
  • Lucid also entered into a subscription agreement with Ayar on August 4, 2024, for the purchase of 75,000 shares of Series B convertible preferred stock for $750 million.
Worse than expected
5 August 2024 4:10 PM
Quarterly Report
  • The company's net loss of $643.4 million for the quarter and $1.324 billion for the six months ended June 30, 2024, is worse than expected.
  • The company's accumulated deficit of $11.5 billion as of June 30, 2024, is worse than expected.
Capital raise
5 August 2024 4:08 PM
Quarterly Report
  • Lucid announced a commitment of $1.5 billion from an affiliate of the Public Investment Fund (PIF).
  • This investment is expected to provide sufficient liquidity into at least the fourth quarter of 2025.
Worse than expected
5 August 2024 4:08 PM
Quarterly Report
  • The company's net loss of $790.251 million and negative free cash flow of $741.302 million indicate worse than expected financial performance.
Capital raise
5 August 2024 4:07 PM
Capital Raise Announcement
  • Lucid Group has secured $750 million through a private placement of Series B Convertible Preferred Stock.
  • The company has also entered into a $750 million term loan agreement with Ayar Third Investment Company.
Capital raise
6 June 2024 4:10 PM
Annual Meeting Results
  • The approval of the increase in shares available for issuance under the stock incentive plan could be used for future capital raising activities.
Worse than expected
24 May 2024 6:58 AM
Restructuring Announcement
  • The company is reducing its workforce and incurring significant restructuring charges, which is generally viewed negatively by investors.
Capital raise
6 May 2024 4:14 PM
Quarterly Report
  • Lucid secured a $1 billion investment through the issuance of Redeemable Convertible Preferred Stock to Ayar Third Investment Company.
  • The company may need to raise additional funds through equity, equity-linked or debt financings in the future.
Worse than expected
6 May 2024 4:14 PM
Quarterly Report
  • Despite increased revenue, the company's net loss remains substantial, indicating that it is not yet on a path to profitability.
Capital raise
6 May 2024 4:06 PM
Quarterly Report
  • Lucid successfully raised $1.0 billion through a private placement to an affiliate of the Public Investment Fund (PIF).
Worse than expected
6 May 2024 4:06 PM
Quarterly Report
  • The company reported a significant net loss of $680.859 million, which is worse than expected.
  • The cost of revenue was significantly higher than the revenue generated, indicating challenges in achieving profitability.
Capital raise
25 April 2024 6:06 AM
Proxy Statement
  • Ayar agreed to purchase 100,000 shares of our Series A Convertible Preferred Stock for an aggregate purchase price of $1,000,000,000 in a private placement.
  • On March, 29, 2024, we issued the shares of Convertible Preferred Stock pursuant to the March 2024 Subscription Agreement and received aggregate proceeds of $1,000,000,000.
Capital raise
29 March 2024 5:08 PM
8-K Filing
  • Lucid Group has raised $1 billion through the sale of Series A Convertible Preferred Stock to Ayar Third Investment Company.
  • The capital raise is a private placement, not a public offering.
Capital raise
25 March 2024 8:07 AM
Private Placement Announcement
  • Lucid Group is raising $1 billion through a private placement of Series A Convertible Preferred Stock.
  • The investor is Ayar Third Investment Company, an affiliate of Saudi Arabia's Public Investment Fund.
  • The preferred stock is convertible into common stock, potentially diluting existing shareholders.
  • The capital raise is expected to close within 10 business days.
Capital raise
27 February 2024 4:09 PM
Annual Results
  • The document mentions that Lucid will require incremental investment to meet AML's demand beyond the committed supply, and AML will decide whether to fund such investment.
  • The document also mentions that Lucid may be eligible for a loan pursuant to the Advanced Technology Vehicles Manufacturing Loan Program administered by the U.S. Department of Energy.
Delay expected
27 February 2024 4:09 PM
Annual Results
  • The document mentions delays in the acceptance of the Project under the Integration Agreement, which may impact timelines set out in the Supply Agreement.
Worse than expected
27 February 2024 4:09 PM
Annual Results
  • The company's net loss of $2.8 billion was worse than expected, indicating ongoing financial challenges.
  • The company's revenue decreased slightly in 2023 compared to 2022, which was worse than expected.
  • The company's cost of revenue increased significantly in 2023, which was worse than expected.
Capital raise
21 February 2024 4:07 PM
Quarterly Report
  • The document mentions that Lucid is reliant on future capital raises and funding strategies.
  • The company's negative free cash flow and significant losses suggest that additional capital will be needed to fund operations.
Worse than expected
21 February 2024 4:07 PM
Quarterly Report
  • Lucid's net loss of $2.83 billion for the year is significantly worse than the previous year's loss of $1.3 billion.
  • The company's negative free cash flow of $3.4 billion for the year is also a significant concern.
  • The cost of revenue is significantly higher than the revenue generated, indicating a lack of profitability.
Delay expected
15 February 2024 5:17 PM
Current Report
  • The 2024 Annual Meeting is delayed by more than 30 days after the anniversary of the 2023 meeting.

Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.