Tuesday, October 7, 2025

Latest

Electric Vehicle Maker Lucid Motors Eyes “Cashless” Redemption Of Outstanding Warrants

Lucid Group (Nasdaq: LCID, LCIDW) announced today the plan to redeem all outstanding purchase share warrants issued as part of the company’s initial public offering in July 2020. The company is setting the redemption price at $0.01 per warrant, essentially making the exercise of the warrants “cashless”.

“Lucid has chosen in part to require [the] cashless exercise of the Public Warrants to enable warrant holders, including our retail investors, to hold shares in Lucid without cash exercise,” said Lucid CEO Peter Rawlinson in a statement.

The automaker’s public warrants, currently trading on the Nasdaq under the symbol “LCIDW”, initially entitled the holder to purchase a Lucid Class A common share at US$11.50 per share. But pursuant to the agreement, the company can elect to redeem all outstanding warrants if its share price is at least US$18.00 for any 20 trading days within the 30-day period ending on the third day prior to the notice of redemption.

Following the cashless redemption, exercising warrant holders will be receiving 0.4458 of a Lucid share which was calculated based on the 10-day average share price ending on the third day prior to the notice of redemption.

The announced redemption scheme only applies to the public warrants outstanding until October 8, 2021 that were issued under the agreement dated July 29, 2020 with Continental Stock Transfer & Trust Company as the warrant agent.

The warrants are expected to cease trading on October 8, 2021 after which all outstanding warrants still not exercised will be delisted and considered void.

Lucid last traded at US$19.56 on the Nasdaq.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Lucid Motors: Action in the U.S. Senate Could Have Positive Implications

On May 26, Lucid Motors revealed the technology options available in its premium Lucid Air...

Sunday, May 30, 2021, 05:03:00 PM

Lucid Group: Reported Manufacturing Halt Could Point To Another Cut In 2022 Production Forecasts

Production issues continue to dog Lucid Group, Inc. (NASDAQ: LCID), and a late May-early June...

Sunday, June 26, 2022, 09:00:00 AM

Polestar Looks Considerably Cheaper Than Rivals Lucid and Rivian

Many U.S. and Canadian risk-tolerant investors who want exposure to start-up, non-China-based manufacturers of electric...

Thursday, December 1, 2022, 06:34:00 AM

Lucid Completes US$1.5 Billion Equity Offering, Yet Valuation Still Looks Rich

On December 19, Lucid Group, Inc. (NASDAQ: LCID) revealed it had completed the US$1.515 billion...

Thursday, December 22, 2022, 07:29:00 AM

Lucid Group’s High Valuation Remains An Issue Despite Bullish Events

Lucid Group, Inc. (NASDAQ: LCID) stock has been a standout performer over the last few...

Saturday, September 25, 2021, 09:00:00 AM