Lucid Group’s stock slides 10% premarket after EV company announces $3 billion stock offering and private placement

Lucid Group Inc.’s stock LCID slid 10% premarket Thursday, after the maker of luxury electric vehicles announced plans for an underwritten public offering of stock and a separate private placement to raise about $3.0 billion in gross proceeds. In a filing with the securities and exchange commission, Lucid said hat it plans to issue 173.5 million shares with BofA Securities acting as sole underwriter.

’s stock LCID slid 10% premarket Thursday, after the maker of luxury electric vehicles announced plans for an underwritten public offering of stock and a separate private placement to raise about $3.0 billion in gross proceeds. In a filing with the securities and exchange commission, Lucid said hat it plans to issue 173.5 million shares with BofA Securities acting as sole underwriter.

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EV maker Lucid to raise about $3 billion from Saudi's PIF, othersLucid Group announced plans to raise about $3 billion through stock offerings, with most of the money expected to come from Saudi Arabia's Public Investment Fund (PIF), sending shares of the embattled electric-vehicle maker down 9% after market hours.
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