Lucid Launches $1 Billion Private Offering of Convertible Notes
Newark, CA – April 2, 2025 – Lucid Group, Inc. (NASDAQ: LCID) announced the private offering of $1 billion in Convertible Senior Notes due 2030, with an option for initial purchasers to buy an additional $100 million in notes.

In connection with the offering, Lucid plans capped call transactions to mitigate potential dilution. The company also expects to repurchase a portion of its existing 1.25% Convertible Notes due 2026 and disclosed that related hedge unwinding could impact stock price movement.

Additionally, Ayar Third Investment Company—a Saudi Public Investment Fund affiliate—plans to enter a prepaid forward transaction for Lucid shares, allowing further hedging activity by investors.

Lucid emphasized that this announcement does not constitute an offer to sell securities, and all transactions are intended for qualified institutional buyers under Rule 144A.