Friday, May 9, 2025

Latest

Lucid Group Aims To Raise US$1.75 Billion From Notes Offering

Days after receiving a subpoena related to an investigation by the Securities and Exchange Commission, Lucid Group (Nasdaq: LCID) announced on Wednesday a planned private notes offering. The electric vehicle maker intends to offer convertible senior notes due 2026 with a total principal amount of US$1.75 billion.

While the notes’ interest rate is yet to be announced, the firm relayed that this will be payable to the holders semi-annually in arrears. The notes are convertible to cash, company shares, or both at the company’s discretion and timing preference.

The carmaker also relayed that it intends to use the net proceeds on financing its “eligible green investments.” But pending that allocation, the proceeds are intended for business expansion and general corporate purposes, which includes “supporting other potential growth opportunities.”

The initial purchasers will also be granted the option to purchase an additional US$262.5 million worth of notes within 13 days from the first issuance of the notes.

In Q3 2021, the company recorded quarterly revenue of US$0.2 million and operating loss of US$497.1 million.

Lucid Group last traded at US$36.52 on the Nasdaq.


Information for this briefing was found via Edgar 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.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

Lucid Group’s Looming Lock-Up Expiration Could Cause Underperformance Over the Short Term

Like many development-stage, high valuation stocks, Lucid Group, Inc. (NASDAQ: LCID) has pulled back significantly...

Sunday, January 9, 2022, 01:12:00 PM

Simply Obscene: Excessive Stock Based Compensation Largely Ignored By Investors

As investors have decided to place an enormous premium on growth stocks over the last...

Sunday, August 28, 2022, 09:00:00 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

Polestar Could Be a Lower Priced Way to Play the EV Sector

Allocating investment dollars to the EV space looks particularly challenging at this juncture, as investor...

Monday, November 29, 2021, 04:36:00 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